767 Freeman Avenue, Long Beach, CA 90804 - MLS#PW25182759

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 1,895,000

Est. payment | -/mo

8 Beds

4 Baths

Save

$ 1,895,000

Est. payment | -/mo

Save

8 Beds

4 Baths

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision Eastside (Es)

MLS Listing ID PW25182759

Bedrooms 8

Property Sub-Type Res Income 2-4 Units

Property Description

Excellent cash flow building in prime Eastside Long Beach area. 7 units total, four garages with 4 parking spaces in front of garage. All unit doors face south for lots of natural light and share common back yard space for happy tenants. Common area laundry room for convenience. All units have been well maintained and upgraded, granite counters, low maintenance tile flooring and updated bathrooms. Very little deferred maintenance. Great location. Rose Park is right around the corner, walking distance to shops and restaurants on 4th Street, 7th Street and Redondo. Current monthly income 13,610 (163,320 annual). GRM is 11.6x. Cap rate with 35% expenses is 5.6%. Market rents are 2,250 with garage and 2050 without. Building has been professionally managed with great tenants. The building is the perfect combination of a quality and cash flow. Units show very well as they are upgraded upon vacancy. This is an easy building to own and manage with additional upside.

Location

State CA

County Los Angeles

Zoning Assessor

Direction N/ 7th Street W/Redondo

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 7258019020

Listed by John Dumke John Dumke, Broker

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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767 Freeman Avenue Long Beach, CA 90804