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Listed by 562-519-0099 - Perry Karn - DRE #01963224 - Southland Property Group 562-270-1777

$1,300,000

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1921 Washington Street Long Beach, CA 90805

Fourplex Residence

Beds

Baths

3,184 Sq. Ft.

0.13 Acre Lot

Property Activity

Time on Site

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Last updated on 9/28/2024 4:12 AM

Listing Details

Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants. The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2 miles ...of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out. Price $1,300,000 Price/Unit $325,000 Price/sqft $408 Current Cap Rate 5.35% Market Cap Rate 6.26% Current GRM 16.62 Market GRM 14.43 Continue reading

MLS#

PW24159134

Property Type

Fourplex

Status

Year Built

1949

Square Feet

3,184 sq. ft

Lot Size

0.13

Sewer