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$1,299,000
Est. payment /mo
8 Baths
3,520 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,520 sqft
Price per Sqft $369
MLS Listing ID 26844683
HOA Y/N No
Year Built 1923
Lot Size 2,256 Sqft
Property Description
PRICED TO SELL - 9.7 GRM AND 6.3% CAP AT CURRENT RENTS. Earn over a 8% Cash on Cash Return. 8 units in Downtown Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). It's located down the street from the new library and right next to $8BB in brand new construction. The buiding has a Walk Score of 90 and is ideally located close to mass transportation as well as shopping and restaurants. The property is professionally managed and well maintained. The main electrical panel is 200 AMPS and the subpanels are 30 AMPS - Buyer to verify. The building also features copper plumbing - Buyer to verify. And it has newer vinyl windows. All unit interiors and hallways were updated in the past 5 years including new paint, fixtures and flooring. And the property got a new roof in 2025. There are 8 private storage rooms in the basement where the laundry is located. These are currently vacant but could be given to tenants as an amenity or leased out for $50-75/month. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Qualified Buyers can obtain a 27% down, 5 year loan fixed at 5.40%, Interest Only.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD30
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7278022034
Special Listing Condition Standard
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Listed by Jonathan Swire The Agency #01336277
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