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DESCRIPTION

20 units located blocks from the Beach in Alamitos Beach in Long Beach. All units have been heavily updated including new kitchens, baths and windows. There is no work to be done. The property is professionally maintained and in excellent condition. There is some rental upside a new Owner can achieve by raising rents. The property features onsite laundry as well a 9 garages that can be rented for $150/month. There is currently an existing TD fixed at 3.3% (originated in 7/21) for 5 years with 3 years of I/O (runs through 7/24). The loan amount is $4.550.000 and has a 3% prepay until 7/23. Buyer to assume the existing TD or be responsible for the prepay. However, given today's interest rates, this is a better loan than available on the market. EMAIL LA1 FOR MORE INFO INCLUDING A RENT ROLL.

KEY DETAILS
  • Price:
  • $7,995,000
  • Bedrooms:
  • 0
  • Full Baths:
  • 0
  • Square Footage:
  • 14,293
  • Acreage:
  • 0.29
  • Year Built:
  • 1954
  • MLS #:
  • 22140533
  • Street Address:
  • 1246 E 2nd St
  • City:
  • Long Beach
  • State:
  • CA
  • Postal Code:
  • 90802
  • County:
  • Los Angeles
  • Area:
  • Downtown Area/ Alamitos Beach
  • Listing Status:
  • For Sale - Active

Building

  • Number Of Units:
  • 20
  • Stories:
  • 2
  • Total # Of Buildings:
  • 1
  • Total Building Square Footage:
  • 14293
  • Year Built:
  • 1954

Business

  • Gross Income:
  • 433500
  • Net Operating Income:
  • 257500

Land

  • Conforms To Zoning:
  • Lbr4r
  • Lot Size:
  • 12423
  • Lot Square Footage:
  • 12423

Listing

  • Days On Market:
  • 87
  • On Market Date:
  • 2022-03-26
  • Originating Mls:
  • Crmls

Structures

  • Has Garage:
  • Yes
  • Parking Description:
  • Garage
  • Parking Spaces:
  • 9

Systems

  • Heating:
  • Wall Furnace

Source

  • Provided By:
  • Listing Agent Jonathan Swire with The Agency

    CACRMLS
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