$1,960,000
$2,019,000
2.9%For more information regarding the value of a property, please contact us for a free consultation.
7,176 SqFt
SOLD DATE : 12/17/2025
Key Details
Sold Price $1,960,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 7,176 sqft
Price per Sqft $273
MLS Listing ID CL25543763
Sold Date 12/17/25
HOA Y/N No
Year Built 1962
Lot Size 7,509 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
PRICE REDUCED $30K - and PRICED TO SELL. Currently under a 9 GRM and 7.1% CAP with upside to under an 8 GRM and 8.4% CAP. 9 units in Long Beach. Excellent unit mix for the area. Well-maintained and professionally managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). 4 garages in the rear. On-site laundry. A number of units here are rented to Section 8 and Housing Programs - rents could easily be increased based on Payment Standards for the 90813 zip code. The 4 garages in rear could potentially be converted to ADU's - Buyer to verify. Qualified Buyers can put down as little as 25% on a new loan. Earn over 10% cash on cash against in place rents, and over 15% cash on cash at market. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
Location
State CA
County Los Angeles
Zoning LBR4
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 7269010037
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© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with JonathanSwire
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