A Rare find for investor. High generating income property at approx $150,000 yearly. Property is offer at 6.24% cap rate. Property consist of (1) commercial building and (5) one bedroom and one bath unit apartments. Tenants are long term and a few have lived on the premise for over 20yrs.
The commercial Tailgate Bar has been in business for a very long time and is a local spot for the locals. Commercial Tenant is responsible for all utilities, repair and maintenance pertaining to interior and exterior of the building. Low management.
The residential units have all been renovated with vinyl and tile flooring, all except one have new kitchen cabinets and quartz countertop and brand new vinyl, retrofit, dual glazed, low E windows. Building has also been freshly painted exterior. All great tenants and great relationship with Landlord. Landlord only pays water and landscaping. Low expenses. Residential address is 1709 W 25th Street, Long Beach, CA 90810.
This property is self managed by owners with ease for over 10years with almost no vacancy in the last 10years. No shortage of renters for the area.
Property Type :
Residential Income
County :
Los Angeles
Style :
Residential Income
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ByOwner last updated this listing 05/26/2024 @ 10:28
MLS: PW24076968
LISTED BY: Jocelyn Thav, Jocelyn Thav, Broker
SOURCE: CRMLS
Buyer Agency Compensation: 2%
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.
