$1,150,000
$1,150,000
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7,453 Sqft Lot
SOLD DATE : 07/31/2024
Key Details
Sold Price $1,150,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision ,Richardson Tract
MLS Listing ID OC24127338
Sold Date 07/31/24
HOA Y/N No
Year Built 1915
Lot Size 7,453 Sqft
Property Description
Downtown Long Beach Cedar Ave Apartments. 6 Units consisting of a 1915 Craftsman single family home in front and a 4 unit, 2 story building in back with an approximate 1000 sqft basement (3 rooms plus kitchen, bathroom, laundry) that is currently rented, but not permitted as living space. ***Cap rate sits at 7.6%*** and the property brings in approximately $109,000 per year and the rents are still fairly low! All units are currently rented by long term tenants. This is a fantastic opportunity for any investor to own bread and butter units in a high rental demand area. You will never have a problem filling any vacancy!
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD10
Interior
Fireplace No
Laundry Common Area
Exterior
Garage On Site, Private, Shared Driveway
Pool None
Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks, Urban
Private Pool No
Building
Lot Description 6-10 Units/Acre, Street Level
Story 2
Entry Level Two
Sewer Public Sewer, Sewer Tap Paid
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7272005028
Acceptable Financing Submit
Listing Terms Submit
Financing Private
Special Listing Condition Standard
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Bought with Angela Costello • RE/MAX TOP PRODUCERS
279 e Arrow Hwy Suite 103, Dimas, CA, 91773, Unite States