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Listed by Edward Kaminsky • eXp Realty of California, Inc
$ 1,600,000
Est. payment /mo
Active
788 Molino Avenue Long Beach, CA 90804
4,150 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,150 sqft
Price per Sqft $385
MLS Listing ID SB-25033951
Year Built 1928
Lot Size 3,750 Sqft
Property Sub-Type Quadruplex
Property Description
Nestled in the heart of the Rose Park Historic District, 788 Molino Ave presents a rare investment opportunity in one of Long Beach's most sought-after rental markets. This well-maintained quadruplex spans an impressive 4,150 square feet and offers a diverse mix of unit types, catering to a wide range of tenants. With three units currently occupied, the property features two 1-bedroom, 1-bath units ideal for young professionals or couples, a spacious 3-bedroom, 2-bath unit perfect for families or shared living, and a flexible 2-bedroom, 2-bath unit with broad appeal. Boasting a projected cap rate of 5.13%, a gross scheduled income of $116,700, and a current net operating income of $82,059, this property is a compelling opportunity for investors seeking strong returns in a high-demand market. Its prime location in the charming Rose Park District ensures consistent rental demand, thanks to its walkability, proximity to major employers, and easy access to transportation, shopping, and dining. A major bonus in this competitive rental landscape is the valuable parking and storage space, including two garages (currently used for storage) and two additional uncovered parking spaces--a significant draw for tenants in Long Beach. Whether you're a seasoned investor or looking to expand your portfolio, this cash-flowing asset is a rare find in one of the city's most desirable rental neighborhoods. Don't miss out--reach out today for more details!
Location
State CA
County Los Angeles
Zoning LBR2N
Interior
Heating Wall Furnace, Combination, Floor Furnace, Gravity
Cooling None
Flooring Carpet, Wood
Laundry Community
Exterior
Parking Features Gated
Garage Spaces 2.0
Pool None
Community Features Sidewalks, Street Lights
View Y/N Yes
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Others
Virtual Tour https://www.zillow.com/view-imx/47c473b5-62a1-4a22-9cd5-777a4b966168?setAttribution=mls&wl=true&initialViewType=pano&utm_source=dashboard