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$ 1,895,000
Est. payment /mo
New
767 Freeman Avenue Long Beach, CA 90804
8 Beds
4 Baths
UPDATED:
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
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