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1822 E 8th Street, Long Beach, CA

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1822 E 8th Street

Long Beach, CA 90813-5107 - Downtown Long Beach MF Submarket

Property Type:Multi-Family Number of Units:4 Status:Existing Year Built:1929
Stories:2 Building Size:3,120 SF Land Area:.06 AC (2,614 SF)
For Sale Price:$794,000 Price/Unit:$198,500.00 Cap Rate:4.78 % GRM:15.00


Sale Notes:
We are pleased to offer this opportunity for a corner lot property in the city of Long Beach with NO RENT CONTROL

This is a well maintained classic Spanish with very large units Income producing 4-plex in an easy to rent neighborhood in Long Beach.
- Each unit is approximately 750 SF and has two bedrooms, one bath plus a bonus room and a private laundry room inside each unit (7 x 7 Ft) as well as a balcony
- All units are spacious with a combination of hardwood floors and tile. The building has lots of character and is well maintained with low overhead
- There is a side grass yard for tenant use in rear as well
- The interior of the property was completely refaced in August 2010
- The property has separate meters for electricity.
- Each unit has its own gas water heater
- Rents have not been raised for a long time
- The area is surrounded the property is mostly residential income property buildings.

Current annual income: $51,600
Current expenses: $7,600
Net operating income (NOI): $44,000

- All reasonable offers will be considered.
Property is located in a highly desirable rental demand and quiet area of Long beach. This is a great property for investors. Seller is very motivated. Submit all offers

Caskey & Caskey Commercial
Mo Sharifi
(310) 374-1800

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