573 Nebraska, Long Beach, CA 90802

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Glen Henderson

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

$1,395,000

Est. payment - /mo

8 Beds

7,387 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID SB25232214

Bedrooms 8

Lot Size 7,387 Sqft

Property Sub-Type Res Income 2-4 Units

Property Type Res Income 2-4 Units

Property Description

Huge 1960's construction 4 unit in 5 blocks to the beach with all townhome style units. Extra large owner's unit currently configured as 2 beds and 2 baths, but originally 3 beds with primary suites. Three other large two story 2 bedroom units, one with 1 bath, and two with 2 baths. 2 out of 4 units recently remodeled with vinyl floors, new kitchens, and bathrooms. Large lot with 5 garages spaces plus extra square footage in the rear. Very attractive metrics at $291/square foot, 12.3X GRM on actuals with a significant 16% upside to 10.5X GRM and a market cap rate of 5.8%. Ideal location in the heart of Alamitos Beach only 5 blocks to the sand. 3 blocks from Downtown Long Beach's East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average household income of $98,000+ (per CoStar research).

Location

State CA

County Los Angeles

Zoning Assessor

Direction East of Orange, South of 7th

Interior

Fireplace No

Exterior

View Y/N No

Roof Type Composition

Building

Story 2

Level or Stories 2

Others

Tax ID 7266016024

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Listed by Anthony Walker Buckingham Investments, Inc

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

573 Nebraska Long Beach, CA 90802

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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