435 W 11th ST Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,395 sqft
Price per Sqft $312
MLS Listing ID 25528237
Bedrooms 14
Year Built 1936
Lot Size 9,683 Sqft
Property Description
PRICE REDUCED $50K. Priced to sell at 10.1 GRM and 6.5% CAP with upside to 9.4 GRM and a 7.2% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side blocks from Downtown Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. A new owner can raise rents to market and achieve a 9.4 GRM and 7.2% CAP. Earn over a 9.5% cash-on-cash return at market rents. Qualified Buyers can put as little as 30% down. EMAIL LISTING AGENT FOR MORE INFO, INCLUDING A RENT ROLL AND OM.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD10
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Assigned
Building
New Construction No
Others
Special Listing Condition Standard