32 Argonne Avenue

    Long Beach, CA 90803
    • $1,895,000
    • STATUS: Active Under Contract
    • ON SITE: 9 days
    • ID#: SB19257633
    Under Contract
    UPDATED: 75 min ago
    $1,895,000
    • 0
      BEDS
    • 0.05
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,934
      SQFT
    • $646
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1931
    County:

    School Ratings & Info

    Description

    Totally Remodeled 5 unit building only steps from the sand in Belmont Shore! All units have been extensively renovated including kitchens, bathrooms, flooring, lighting, and finishes. Overall a beautifully restored 1930+GGs building full of character. Units newly leased at market rent, with no risk of rent rollbacks from AB 1482. Low maintenance building with separately metered gas and electric, and no landscaping. Strong income on in-place rents at 16.76 GRM, and makes the perfect 1031 exchange upleg!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-14T08:28:05.407. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty. Licensed in the State of California, USA.
    www.twissrealty.com/homes/100546557

    32 Argonne Avenue Long Beach, CA 90803

    • Price: $1,895,000
    • Status: Active Under Contract
    • Updated: 75 min ago
    • ID#: SB19257633
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.05
    Acres
    2,934
    SQFT
    $646
    $/SQFT
    1931
    Built
    Neighborhood:
    Belmont Shore (Bsd)
    County:
    Los Angeles
    Area:
    1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr
    Property Description
    Totally Remodeled 5 unit building only steps from the sand in Belmont Shore! All units have been extensively renovated including kitchens, bathrooms, flooring, lighting, and finishes. Overall a beautifully restored 1930+GGs building full of character. Units newly leased at market rent, with no risk of rent rollbacks from AB 1482. Low maintenance building with separately metered gas and electric, and no landscaping. Strong income on in-place rents at 16.76 GRM, and makes the perfect 1031 exchange upleg!
    Exterior Features

    Garage Spaces 0.00 Lot Features 2-5 Units/AcreNo Landscaping Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features None

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.60 Community Features WatersportsPreserve/Public Land Country Us Electric Expense 1100.00 Elevation Units Feet Gross Income 109707.00 Gross Multiplier 16.76 Gross Operating Income 109707.00 Gross Scheduled Income 113100.00 Insurance Expense 4572.00 Land Lease YN No Laundry YN No Licenses Expense 265.00 Maintenance Expense 5485.00 Net Operating Income 68612.00 New Construction YN No New Taxes Expense 23688.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 5 Operating Expense 41095.00 Pest Control Expense 500.00 Professional Management Expense 5485.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Belmont Shore (Bsd) Total Actual Rent 9425.00 Total Expenses 41095.00 Trash Expense 0.00 Vacancy Allowance 3393 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Other Year Built Source Public Records Zoning Lbr4r

    Listing provided courtesy of Anthony Walker of Buckingham Investments, Inc and Travis Lebouf of Re/Max Platinum Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-14T08:28:05.407. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty. Licensed in the State of California, USA.
     
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