$1,667,500
$1,750,000
4.7%For more information regarding the value of a property, please contact us for a free consultation.
5,662 Sqft Lot
SOLD DATE : 12/19/2019
Key Details
Sold Price $1,667,500
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Belmont Heights (Bh)
MLS Listing ID PW19030133
Sold Date 12/19/19
HOA Y/N No
Year Built 1965
Lot Size 5,662 Sqft
Property Description
Great investment opportunity for a pride of ownership building on the edge of popular Belmont Heights that offers residential living within walking distance to the ocean, beach, restaurants and shopping. This 5 unit building offers a desirable mix of: (2) large 3 bedroom units, (one with 1.5 baths and the other 3 bedroom with 1 3/4 baths), and (2) 2 bedroom, 1 bath units and (1) 2 bedroom, 1.5 bath unit. The larger 3 bedroom units and 2 bedroom, 1.5 bath unit are upstairs, all offering good size bedrooms and closets. The building offers large units with a total sq. ft. of approx. 5,200 and the bonus of 7 one car garages (all walled and separate)- 3 garages in front and 4 garages in rear alley. Community laundry room with bonus owner storage. Exterior of building was painted a little over one year ago. Upgraded copper plumbing lines in most of the building. This is an excellent opportunity to acquire a quality portfolio asset in a great location with true rental upside and stable return. Tenants are all month to month. The coastal area of Long Beach currently enjoys high occupancy rate, offering a unique opportunity for investment in one of the more affordable and desirable coastal cities in Southern California.
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Zoning LBR3S
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Flooring Carpet, Tile, Vinyl
Fireplace No
Appliance Gas Cooktop
Laundry Common Area, See Remarks
Exterior
Garage Door-Single, Garage
Garage Spaces 7.0
Garage Description 7.0
Pool None
Community Features Curbs, Sidewalks
Parking Type Door-Single, Garage
Total Parking Spaces 7
Private Pool No
Building
Lot Description 2-5 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 7254021006
Energy Description 1700.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Kristina Moore • The Moore Group
Real Estate Agent & Loan Officer | License ID: 02076931
+1(949) 226-1789 | realestateaminzarif@gmail.com