1604 E 1st Street , #4

    Long Beach, CA 90802
    • $1,698,000
    • STATUS: Active
    • ON SITE: 40 days
    • ID#: OC19009765
    UPDATED: 41 min ago
    $1,698,000
    • 0
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,512
      SQFT
    • $376
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1919
    County:

    School Ratings & Info

    Description

    Beautiful quadruplex is in the desirable Alamitos Beach area of Long Beach. Walking distance to beach, parks, boutiques, restaurants and cafes. The City of Long Beach continues to progress with tremendous $2.2 billion redevelopment. This prime location is non-rent control and are in beautiful condition. This property presents investors with opportunity to acquire a turn-key investment with upside in market rents and an attractive 3% CAP rate. Beautifully landscaped and professional maintained. Each unit has an assigned detach garage.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-24T00:38:15.897. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/90858417

    1604 E 1st Street , #4 Long Beach, CA 90802

    • Price: $1,698,000
    • Status: Active
    • Updated: 41 min ago
    • ID#: OC19009765
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    4,512
    SQFT
    $376
    $/SQFT
    1919
    Built
    Neighborhood:
    Alamitos Beach (Ab)
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    Property Description
    Beautiful quadruplex is in the desirable Alamitos Beach area of Long Beach. Walking distance to beach, parks, boutiques, restaurants and cafes. The City of Long Beach continues to progress with tremendous $2.2 billion redevelopment. This prime location is non-rent control and are in beautiful condition. This property presents investors with opportunity to acquire a turn-key investment with upside in market rents and an attractive 3% CAP rate. Beautifully landscaped and professional maintained. Each unit has an assigned detach garage.
    Exterior Features

    Entry Level 1 Garage Spaces 5.00 Lot Features Back YardFront YardLandscapedLawnLevel With StreetNear Public TransitPark NearbyValue In LandWalkstreetYard Lot Size Source Assessor Lot Size Units Square Feet Parking Total 5.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 1153 Average1 Bed Area Units Square Feet Average2 Bed Area 1245 Average2 Bed Area Units Square Feet Average3 Bed Area 1245 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling See Remarks Cooling YN Yes Fireplace Features Living Room Fireplace YN Yes Flooring LaminateSee RemarksWood Heating Central Furnace Heating YN Yes Interior Features 2 StaircasesBalcony Laundry Features Area Levels Two Room Type EntryKitchenLiving RoomSee Remarks

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.00 Community Features CurbsGuttersSidewalks Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 1200.00 Gross Income 85920.00 Gross Multiplier 18.00 Gross Scheduled Income 90120.00 Insurance Expense 2000.00 Land Lease YN No Laundry Income 300.00 Laundry YN Yes Maintenance Expense 3000.00 Net Operating Income 68920.00 New Construction YN No New Taxes Expense 21225.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Number Of Units Leased 4 Operating Expense 17000.00 Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Alamitos Beach (Ab) Tenant Pays All UtilitiesCable TvElectricityGas Total Actual Rent 85920.00 Total Expenses 27700.00 Trash Expense 500.00 Utilities Cable AvailableElectricity AvailableNatural Gas AvailableOtherPhone AvailableSee RemarksSewer Available Water Sewer Expense 1200.00 Water Source Public Year Built Source Assessor Zoning Lbr4r

    Listing provided courtesy of Yolanda Wallace of First Team Estates and Vincent Dawson of First Team Real Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-24T00:38:15.897. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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