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Matt O'Brien

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

$ 1,275,000

Est. payment | -/mo

8 Baths

3,520 SqFt

Save

$ 1,275,000

Est. payment | -/mo

Save

8 Baths

3,520 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,520 sqft

Price per Sqft $362

MLS Listing ID 26844683

HOA Y/N No

Year Built 1923

Lot Size 2,256 Sqft

Property Description

PRICED REDUCED TO SELL - 9.5 GRM AND 6.5% CAP AT CURRENT RENTS. Earn over a 8% Cash on Cash Return. 8 units in Downtown Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). It's located down the street from the new library and right next to $8BB in brand new construction. The buiding has a Walk Score of 90 and is ideally located close to mass transportation as well as shopping and restaurants. The property is professionally managed and well maintained. The main electrical panel is 200 AMPS and the subpanels are 30 AMPS - Buyer to verify. The building also features copper plumbing - Buyer to verify. And it has newer vinyl windows. All unit interiors and hallways were updated in the past 5 years including new paint, fixtures and flooring. And the property got a new roof in 2025. There are 8 private storage rooms in the basement where the laundry is located. These are currently vacant but could be given to tenants as an amenity or leased out for $50-75/month. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Qualified Buyers can obtain a 27% down, 5 year loan fixed at 5.40%, Interest Only.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBPD30

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features None

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7278022034

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Jonathan Swire The Agency #01336277

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA 92124

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322 Daisy AVE Long Beach, CA 90802