$525,000
$529,000
0.8%For more information regarding the value of a property, please contact us for a free consultation.
2,180 SqFt
SOLD DATE : 03/14/2014
Key Details
Sold Price $525,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,180 sqft
Price per Sqft $240
Subdivision North Long Beach (Nlb)
MLS Listing ID PV14005694
Sold Date 03/14/14
HOA Y/N No
Year Built 1949
Tax Year 2012
Lot Size 4,748 Sqft
Acres 0.109
Property Description
The property represents an opportunity to acquire a well maintained building that has recently been repositioned to attract the many tenants that want to live in North Long Beach. The property is close to many jobs, shopping and entertainment. The quality and condition of the units and common areas combined with an improving leasing market have allowed the property to maintain a high occupancy with rent growth. There is still significant rental upside as units turnover and there is no rent control to limit pricing.
Current monthly rents for the one bedroom units are $950, $845, $725 and $845.
Long Beach is situated on 50 square miles of prime real estate flanking a generous 11-mile coastline located squarely between Los Angeles and Orange County. This community is one of the most ideal strategic spots in the world for international trade, regional commerce, new and innovative technology, and an unparalleled lifestyle just a short drive away from mountains, deserts and, of course, the beach. This property offers a North Long Beach location with just a short walk to the restaurants and shops located along Long Beach Boulevard and Market Street. The area also offers easy access to the 710, 91 and 405 Freeways.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Interior
Fireplace No
Exterior
Pool None
Community Features Suburban
Utilities Available SewerConnected
Total Parking Spaces 3
Private Pool No
Building
Lot Description Yard
Story One
Entry Level One
Water Public
Level or Stories One
Others
Tax ID 7132011007
Acceptable Financing CashtoNewLoan
Listing Terms CashtoNewLoan
Financing Conventional
Special Listing Condition Standard
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Bought with Kevin Apor • Peninsula Sotheby's Int'l Rlt
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "