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Listed by Cody Charnell • Sage Real Estate Group, Inc.
$2,450,000
Est. payment /mo
6,503 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW24249846
Originating Board California Regional MLS
Year Built 1923
Lot Size 6,503 Sqft
Property Description
**SELLER FINANCING AVAILABLE**Discover this charming Spanish-style 13-unit apartment building nestled in the heart of Long Beach's vibrant East Side neighborhood. Combining timeless architectural appeal with modern upgrades, this property presents an exceptional opportunity for investors seeking a value-add asset with significant income potential. With a remarkable 35% upside in rents, a new owner can unlock tremendous cash flow while capitalizing on the extensive improvements already completed. Improvements include the installation of 13 new wall heaters (1990), a full repipe of gas lines (1998), a complete replacement of water supply lines (2006),14 new electric meters (1990), double-pane vinyl windows throughout (2017), new 100 gallon water heater (2022), and all ABS plastic drain lines. The original floor plans also offer an opportunity for reconfiguration to unlock even more rental income potential. This reconfiguration has already been completed on unit #10. Seller financing is available for qualified buyers. Seller's will consider carrying financing with 25% down, 5% interest rate, and up to a 10 year loan term. Financing terms are dependent on offer price.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Heating Wall Furnace
Laundry None
Exterior
Parking Features No Parking
Pool None
Building
Water District - Public
Others
Tax ID 7253008006
Special Listing Condition Not Applicable
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Sharad Gupta
Broker | License ID: 02213637
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