$1,825,000
$1,850,000
1.4%For more information regarding the value of a property, please contact us for a free consultation.
6,534 Sqft Lot
SOLD DATE : 08/29/2019
Key Details
Sold Price $1,825,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID PW19146053
Sold Date 08/29/19
HOA Y/N No
Year Built 1916
Lot Size 6,534 Sqft
Acres 0.15
Property Description
We are pleased to present to market 1135 East 12th Street, a 12-unit apartment building in Long Beach, California. This offering presents a great opportunity for an investor to acquire a partially renovated asset with solid in-place cash flow and potential upside in a strong rental market.
The property consists of a 1916 construction building with 12 one-bedroom units that range from 300 to 428 square feet. Eight units have been renovated, another unit has new flooring, and all units have security gates,. The property also features on-site laundry and nine parking spaces plus two motorcycle spaces.
In addition to the renovated units, 1135 East 12th Street boasts numerous other recent improvements, including: a new roof that was installed in November 2018, a gas barbecue, earthquake bolt down and auto gas shut off, and a new valve set in the front yard that is ready for a drought-tolerant irrigation setup. As a result of the units’ smaller sizes, a new investor may enjoy low recurring utility expenses and low turnover costs.
The property is located near the intersection of Alamitos Avenue and Anaheim Street, across from Grant Church, and just steps from Lincoln Elementary School. The property’s location conveniently near dining, retail and grocery options have earned it a great WalkScore of 89. This area is a strong rental market where over 85 percent of housing units within one mile are renter-occupied.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4R
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7274006022
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Daniel Lewin • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
3631 Truxel Rd # 1081, Sacramento, CA, 95834, United States