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Listed by Anthony P. Walker • Buckingham Investments, Inc
$ 1,095,000
Est. payment /mo
Active
717 East 8th Long Beach, CA 90813
3,432 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,432 sqft
Price per Sqft $319
MLS Listing ID SB-25232103
Year Built 1910
Lot Size 5,001 Sqft
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
High income totally updated 4 unit property in Downtown Long Beach with a 4 bed, 2.5 bath front house full of character plus three 1 bed, 1 bath units in the rear. All units recently updated, newer roof, replaced stairs, landscaping and exterior refresh completed. Very well priced on income at 11.3X GRM on actuals and a 5.7% cap rate with upside to 10.7X GRM and a 6.1% cap rate on market rents. 2 garages in rear structure plus driveway parking for 3 cars by the front house. Potential for ADU conversion in rear garages. Separately metered for gas and electric, allowing a low expense building. Great location right in Downtown Long Beach just North of the East Village Arts District. Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development. Only 8 blocks to the beach.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry None
Exterior
Parking Features Garage Faces Rear
Garage Spaces 2.0
Pool None
Community Features Suburban
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected
Building
Lot Description Rectangular Lot
Sewer Public Sewer