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Key Details
Sold Price $2,375,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,944 sqft
Price per Sqft $342
Subdivision Eastside (Es)
MLS Listing ID PW20258168
Sold Date 09/30/21
HOA Y/N No
Year Built 1986
Lot Size 7,000 Sqft
Acres 0.1607
Property Description
We are pleased to present an 8-unit apartment building located in Long Beach, California. Built in 1987, the subject property consists of 6,944 rentable square feet spread throughout a 7,001 square foot lot. The unit mix consists of all 2- bedroom / 2-bathroom units. It is separately metered for gas and electricity.
Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was completed and opened in September 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market with strong in place income in one of the best neighborhoods of Long Beach.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBCCA
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Curbs, Sidewalks
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer, Septic Type Unknown
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7262025003
Energy Description 950.5
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Jeffrey Isenberg • Buckingham Investments, Inc
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Crystal Trammell
REALTOR® | Mortgage Broker | License ID: 02147605
REALTOR® | Mortgage Broker License ID: 02147605