$845,000
$800,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
6 Beds
5 Baths
2,576 SqFt
SOLD DATE : 08/31/2021
Key Details
Sold Price $845,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 2,576 sqft
Price per Sqft $328
MLS Listing ID 21-763586
Sold Date 08/31/21
Bedrooms 6
Construction Status Fixer
Year Built 1929
Lot Size 6,534 Sqft
Acres 0.15
Property Description
Five unit investment property located within an Opportunity Zone of Long Beach. Listed for a modest $160,000 per unit, this late 1920's construction property consists of six bedrooms and five bathrooms. Every unit stands independent, with no common walls. Four buildings provide one bedroom and one bathroom each. The fifth building, located at the rear of the property, contains two bedrooms and one bathroom. Units are separately metered for gas and electricity. Renovations have included over half of the windows being replaced with double-pane windows and roofs are five years new. Rear alleyway access provides the opportunity to create a minimum of 5 personal parking spaces for tenants. With additional renovations, and the substantial rental upside potential, investors could net an 8.20% cap rate at market rents. *SOLD AS-IS* **DO NOT DISTURB TENANTS**
Location
State CA
County Los Angeles
Area Poly High
Zoning LBR2N
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Window Unit(s)
Equipment None
Exterior
Garage Public, Driveway - Concrete
Garage Spaces 5.0
Building
Story 1
Construction Status Fixer
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
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