1921 E Washington ST Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90805
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,184 sqft
Price per Sqft $361
Subdivision North Long Beach (Nlb)
MLS Listing ID PW25003991
HOA Y/N No
Year Built 1949
Lot Size 5,601 Sqft
Acres 0.1286
Property Sub-Type Quadruplex
Property Description
** MAJOR PRICE REDUCTION**
Perfect for investors with a current cap rate of 6.77% and GRM of 13.31 and a market cap rate of 8.47% and GRM of 10.86. 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
$1,150,000
Price/Unit $287,500
Price/sqft $361
Current Cap Rate 6.77%
Market Cap Rate 8.47%
Current GRM 13.31
Market GRM 10.86
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR2N
Interior
Laundry Community
Exterior
Garage Spaces 3.0
Pool None
Community Features Suburban,Urban
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Special Listing Condition Standard
Lease Land No
Confidential INFO
TERMS Cash,Conventional
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Agent
SHOW CONTACT NAME Perry Karn
SHOW CONTACT PH 5625190099
SHOW INSTRUCTIONS Fully occupied. Please do not disturb tenants. Please contact Perry Karn for showings and or questions at 562-519-0099.