CA > Long Beach > Eastside (Es)
Long Beach, CA 90804,767 Freeman AVE
Long Beach, CA 90804,767 Freeman AVE
Long Beach, CA 90804,767 Freeman AVE
Long Beach, CA 90804,767 Freeman AVE
Long Beach, CA 90804,767 Freeman AVE
Long Beach, CA 90804,767 Freeman AVE
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Dion Stallberg

Dion Stallberg

+1(949) 690-4106
$ 1,895,000
Est. payment | /mo

6,751 Sqft Lot

Save
$ 1,895,000
Est. payment | /mo
Save

6,751 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Eastside (Es)

MLS Listing ID PW25182759

HOA Y/N No

Year Built 1961

Lot Size 6,751 Sqft

Property Sub-Type Apartment

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 happy tenants. Private common back yard space. 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. Gross monthly income currently 13,610 (163,320 annual). GRM at list price is 11.6x. Cap rate with 35% expenses on gross annual rents is 5.6% and this is on actual rents! Reasonable proforma rents of 2,250 with a garage and 2100 for a unit without garage yields 183,600 gross revenue, 10.32X GM and 6.3% cap rate. Building has been professionally managed with great tenants. The building is the perfect combination of a quality area and cash flow.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Interior

Heating Wall Furnace

Cooling None

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Street Lights, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Total Parking Spaces 4

Private Pool No

Building

Lot Description Back Yard

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7258019020

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Lease Land No

CRMLS – RECore
Listed by John Dumke John Dumke, Broker 562-572-2296
agent-avatar

+1(949) 690-4106

dion@ocexcelgroup.com

344 3rd St, Beach, CA, 92651, United States

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