GREAT INVESTMENT PROPERTY!!! Discover a gem in the Eastside submarket of Long Beach with this exceptional 1980s building. This property boasts 10
LARGE UNITS two-bedroom, condo-style apartments, each offering spacious and luminous interiors. Highlights include vaulted ceilings in upper units and expansive balconies in all apartments, enhancing the appeal and comfort for residents.
Security is prioritized with locked entrances and security cameras throughout the property. Additionally, the building features a gated garage with 15 parking spaces, presenting an opportunity to generate additional income by renting out surplus spaces.
It features a newer roof with a lifetime guarantee and includes seller-owned laundry machines. The financial burden of utilities is eased as tenants are responsible for their own gas and electric costs, keeping operating expenses low.
This investment asset is a standout in a desirable, low-vacancy area of Long Beach, offering more than 18% rental upside potential. Recent upgrades include remodeled units in 2021 and a piloties 15 parking lot enhancement. Conveniently located near freeways and public transportation, this property represents a rare chance to acquire a well-maintained, income-generating building with significant growth potential. Act now to capitalize on this excellent investment opportunity in a thriving residential neighborhood.
Property Type :
Residential Income
Subdivision :
Fallbrook
County :
Los Angeles
Style :
Residential Income
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ByOwner last updated this listing 06/03/2024 @ 09:43
MLS: OC24089428
LISTED BY: Lily Nguyen, Berkshire Hathaway HomeService
SOURCE: CRMLS
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
