$3,275,000
$3,375,000
3.0%For more information regarding the value of a property, please contact us for a free consultation.
9,648 SqFt
SOLD DATE : 10/05/2022
Key Details
Sold Price $3,275,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 9,648 sqft
Price per Sqft $339
Subdivision North Long Beach (Nlb)
MLS Listing ID SB22131119
Sold Date 10/05/22
Construction Status Repairs Cosmetic,Updated/Remodeled,Turnkey
HOA Y/N No
Year Built 1964
Lot Size 0.275 Acres
Acres 0.2755
Property Description
Easy to own asset that is a great addition to any portfolio! This clean and well-maintained 12-unit property consists of eight 2bed/1bath units and four 1bed/1bath units with eight garages and private laundry/ storage rooms. The entire property is secured with coded entry and a brand new camera system. Plus, two of the units were recently refurbished and the entire roof is brand new. Each unit is in good condition, offers a functional layout, and provides plenty of space for the tenants to enjoy. Located in the path of progress - this dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Bixby Knolls and all the new large scale redevelopment projects (The Beat, The Uptown, Uptown Commons, etc.) by nationally acclaimed developers coming online along the Atlantic corridor brings a ton of long-term value to the local market. Downtown Long Beach, the beach, parks, public transportation, easy freeway access, and other community amenities/ attractions are close by for all to enjoy. Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR1N
Rooms
Ensuite Laundry Common Area, Laundry Room
Interior
Interior Features Multiple Staircases, Utility Room
Laundry Location Common Area,Laundry Room
Heating Wall Furnace
Cooling None
Flooring Carpet, Laminate, Vinyl
Fireplaces Type None
Fireplace No
Appliance Free-Standing Range, Gas Cooktop, Gas Oven, Gas Range, Refrigerator
Laundry Common Area, Laundry Room
Exterior
Garage Spaces 8.0
Garage Description 8.0
Fence Privacy, Security, Wrought Iron
Pool None
Community Features Curbs, Sidewalks, Gated, Park
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Composition,Shingle
Accessibility Safe Emergency Egress from Home, Parking
Total Parking Spaces 8
Private Pool No
Building
Lot Description Front Yard, Landscaped, Near Park, Near Public Transit
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic,Updated/Remodeled,Turnkey
Others
Senior Community No
Tax ID 7126033023
Security Features Security System,Closed Circuit Camera(s),Carbon Monoxide Detector(s),Gated Community,Key Card Entry,Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with Anthony Walker • Buckingham Investments, Inc
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "