435 W 11th St Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,395 sqft
Price per Sqft $312
MLS Listing ID 25528237
Bedrooms 14
Year Built 1936
Lot Size 9,685 Sqft
Acres 0.2223
Property Sub-Type Multi-Family
Property Description
PRICE REDUCED $50K. Priced to sell at 10.1 GRM and 6.5% CAP with upside to 9.4 GRM and a 7.2% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side blocks from Downtown Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. A new owner can raise rents to market and achieve a 9.4 GRM and 7.2% CAP. Earn over a 9.5% cash-on-cash return at market rents. Qualified Buyers can put as little as 30% down. EMAIL LISTING AGENT FOR MORE INFO, INCLUDING A RENT ROLL AND OM.
Location
State CA
County Los Angeles
Area Downtown Area, Alamitos Beach
Zoning LBPD10
Rooms
Other Rooms None
Interior
Heating Wall
Cooling None
Equipment None
Exterior
Parking Features Assigned
Building
Level or Stories Two
Others
Special Listing Condition Standard