Property Detail
Description
4 renovated units located in downtown Long Beach, fully leased with gross scheduled rents over $110,000 per year! The property has an attractive unit mix of (2) 3-bedroom 1-bath units and (2) 2-bedroom 1-bath units. All 4 units have been meticulously renovated in 2023 including new flooring, cabinetry, Quartz countertops, light fixtures, wall heaters, water heater, sinks, appliances, blinds, and fresh paint. The property boasts a completely upgraded electrical system in 2023, including a full re-wire, new main service panel, and sub panels, as well as a 2024 Silicone white roof! The current owners have invested over $150,000 into property improvements, making it perfect for a turnkey investor. The property is individually metered for gas and electricity. Attractively priced at 12.47 GRM and a 5.3% cap rate with upside to 10.15 GRM and 7.0% pro forma cap rate!! Reach out today!
Map Location
Listing provided courtesy of Christopher Crosby of Buckingham Investments, Inc. Last updated 2025-08-13 08:23:06.000000. Listing information © 2025 CRMLS.
Fara Fashandi
DRE# 01339461
1111 Prospect St #100La Jolla, CA 92037
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858.336.7311
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CA DRE# 01339461
1111 Prospect St #100 La Jolla, CA 92037
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