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$2,650,000
Est. payment /mo
6,503 Sqft Lot
UPDATED:
12/16/2024 03:13 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID PW24249846
HOA Y/N No
Year Built 1923
Lot Size 6,503 Sqft
Property Description
**SELLER FINANCING AVAILABLE**Discover this charming Spanish-style 13-unit apartment building nestled in the heart of Long Beach's vibrant East Side neighborhood. Combining timeless architectural appeal with modern upgrades, this property presents an exceptional opportunity for investors seeking a value-add asset with significant income potential. With a remarkable 35% upside in rents, a new owner can unlock tremendous cash flow while capitalizing on the extensive improvements already completed. Improvements include the installation of 13 new wall heaters (1990), a full repipe of gas lines (1998), a complete replacement of water supply lines (2006),14 new electric meters (1990), double-pane vinyl windows throughout (2017), new 100 gallon water heater (2022), and all ABS plastic drain lines. The original floor plans also offer an opportunity for reconfiguration to unlock even more rental income potential. This reconfiguration has already been completed on unit #10. Seller financing is available for qualified buyers.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBR2N
Interior
Heating Wall Furnace
Fireplace No
Laundry None
Exterior
Parking Features None
Pool None
Community Features Curbs
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7253008006
Acceptable Financing Cash, Cash to New Loan, Owner Will Carry, Owner May Carry
Listing Terms Cash, Cash to New Loan, Owner Will Carry, Owner May Carry
Special Listing Condition Standard
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Listed by Cody Charnell • Sage Real Estate • 562-896-3851