$1,485,000
$1,595,000
6.9%For more information regarding the value of a property, please contact us for a free consultation.
7,840 Sqft Lot
SOLD DATE : 12/17/2019
Key Details
Sold Price $1,485,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Linden Avenue (Lav)
MLS Listing ID PW19152539
Sold Date 12/17/19
HOA Y/N No
Year Built 1931
Lot Size 7,840 Sqft
Property Description
We are pleased to present a six-unit multifamily community located in the excellent rental market of Downtown Long Beach, California. Built in 1931, the property has approximately 5,212 rentable square feet on an 8,212-square foot lot. Located on a quiet street, the building has a great unit mix of two studios, two one-bedroom / one-bathroom units, and two two-bedroom / two-bathroom units. The subject property has ample parking for tenants convenience.
The property is within a short distance to the hub of tourism, business, and transit that is Downtown Long Beach. This is a rare opportunity to acquire a quality, pride-of-ownership asset in this outstanding rental market and would make a great addition to any investors portfolio. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment of $3.3 billion. An example of this large-scale redevelopment is the Long Beach Civic Center, which is estimated to be completed late 2019. The Civic Center will include a new city hall and the Port of Long Beach headquarters, as well as multi-family residential units. Long Beach sustains its ability to attract renters due to its strong economy and high quality of life.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4N
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer, Septic Type Unknown
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7274016003
Energy Description 1008.0
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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310 Third Ave Suite # C-3, Chula Vista, California, 91910, United States