5290 E Division Street, Long Beach, CA 90803

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Glen Henderson

[email protected] +1(619) 889-7646

$2,150,000

Est. payment - /mo

3 Baths

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Pending

Purchase Type For Sale

Subdivision Belmont Shore (Bsd)

MLS Listing ID PW25090414

Property Sub-Type Res Income 2-4 Units

Property Description

Income and expense are using projected market rents and put property operating at projected 5.48% Cap and 12.4X Gross (Estimated current 4.34% and 14.4X). Located in the affluent community of Belmont Shore, a Southern California beach community and college town being just a few minutes from CSU Long Beach. Both buildings (also for sale with 102 Argonne 10U for $2,750,000) are meticulously cared for, and both have been upgraded with copper plumbing, and most unit interiors have been upgraded. The investment provides the opportunity to increase your return by increasing the rents to market and separate metering the building utilities, therefore, providing immediate lower overhead/increased cash flow and continued added value in the future with rising utility costs being transferred to the tenants. Laundry is leased and managed by a 3rd party offering further income upside by canceling the contract and installing your own machines. Some units may be rented at amounts different than current income rent roll. Insurance rates may not be current rate for new owner, so buyer must get own insurance quotes including flood insurance if needed. Street parking only.

Location

State CA

County Los Angeles

Zoning Assessor

Direction 2nd Street, Turn east on Glendora, Right on 1st St will be on right at Division Street

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 7247011015

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Listed by AJ Nay AJ Nay, Broker

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

5290 E Division Street Long Beach, CA 90803

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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