$1,050,000
$1,050,000
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1,999 Sqft Lot
SOLD DATE : 08/15/2025
Key Details
Sold Price $1,050,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB25062688
Sold Date 08/15/25
HOA Y/N No
Year Built 1923
Lot Size 1,999 Sqft
Property Sub-Type Quadruplex
Property Description
Perfect 4 unit investment property right in the heart of Downtown Long Beach, benefitting from over $8 billion in new and ongoing development. The property features four 1 bed/1 bath units in 2688 square feet on a 2001 square foot lot. Well priced on actual income at 13.3X GRM with a 9% upside in rents to a market GRM of 12. Nicely remodeled interiors that offer modern finishes while maintaining the period character of the building. Simple low expense property separately metered for gas and electric. Well maintained, professionally managed Asset in a dense, high demand rental market. Attractive entry price and low price per door for a 4 unit property, offering 30 year fixed financing. The property is only 2 blocks to the massive civic center redevelopment, 2 blocks to historic Pine Avenue, and 5 blocks to Ocean Blvd. The Metro Blue Line station is only one block away for excellent transit access. Per Costar, 65% of households within a 5 mile radius are renters with an average household income of over $93,000.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD10
Interior
Interior Features Built-in Features
Heating Wall Furnace
Cooling None
Flooring Laminate
Fireplaces Type None
Fireplace No
Appliance Gas Range
Laundry None
Exterior
Parking Features None
Pool None
Community Features Urban
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Accessibility None
Private Pool No
Building
Lot Description Rectangular Lot
Faces Northeast
Story 2
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7280011005
Energy Description 581.0
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with Kristen Mussenden 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! "