4115 E 1st Street

    Long Beach, CA 90803
    • $2,165,000
    • STATUS: Active
    • ON SITE: 12 days
    • ID#: PW20093245
    UPDATED: 28 min ago
    $2,165,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,376
      SQFT
    • $641
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1944
    County:

    School Ratings & Info

    Description

    Seller has replacement property in escrow, short escrow is OKAY. UPSIDE IS SIGNIFICANT, please see supplement link- re current Rent Roll and History. This pride of ownership easy-to-manage 8-plex has all the potential to operate easily at 100% occupancy at all times, at premium rents, as these are larger home-like units with front and rear doors, sun-filled all day every day, all units are South-facing balcony style on the premier corner End-Cap of First Street (corner of Roswell), with curb parking just outside the front door. These are beautiful when refinished (several are currently refinished), with hardwood floors, eat-in kitchens and windows galore. Plus new roof and stairway, railings and paint. This is in a very desirable location of Belmont Shore, just a block from the beach, fitness center and bike path, with access to Livingston Drive for easy commuting, and a short stroll to Second Street shops and Restaurants. These are home-like and could easily operate at $1400-$1500 ultimately, which would yield a CAP of 4+% and GRM of 15.5x with income from parking and laundry ($45 /mo average. This is a portfolio property with stability and appeal, one to hold forever and hand to the kids, or an investment quality property with room to optimize performance. PLEASE DRIVE BY run your matrix and bring an offer.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-28T07:25:35.5. 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/105938750

    4115 E 1st Street Long Beach, CA 90803

    • Price: $2,165,000
    • Status: Active
    • Updated: 28 min ago
    • ID#: PW20093245
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    3,376
    SQFT
    $641
    $/SQFT
    1944
    Built
    Neighborhood:
    Belmont Shore (Bsd)
    County:
    Los Angeles
    Area:
    1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr
    Property Description
    Seller has replacement property in escrow, short escrow is OKAY. UPSIDE IS SIGNIFICANT, please see supplement link- re current Rent Roll and History. This pride of ownership easy-to-manage 8-plex has all the potential to operate easily at 100% occupancy at all times, at premium rents, as these are larger home-like units with front and rear doors, sun-filled all day every day, all units are South-facing balcony style on the premier corner End-Cap of First Street (corner of Roswell), with curb parking just outside the front door. These are beautiful when refinished (several are currently refinished), with hardwood floors, eat-in kitchens and windows galore. Plus new roof and stairway, railings and paint. This is in a very desirable location of Belmont Shore, just a block from the beach, fitness center and bike path, with access to Livingston Drive for easy commuting, and a short stroll to Second Street shops and Restaurants. These are home-like and could easily operate at $1400-$1500 ultimately, which would yield a CAP of 4+% and GRM of 15.5x with income from parking and laundry ($45 /mo average. This is a portfolio property with stability and appeal, one to hold forever and hand to the kids, or an investment quality property with room to optimize performance. PLEASE DRIVE BY run your matrix and bring an offer.
    Exterior Features

    Garage Spaces 0.00 Lot Features Level 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 Individual Room Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.10 Community Features Sidewalks Country Us Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Multiplier 15.50 Gross Scheduled Income 139000.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 90000.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 8 Operating Expense 0.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Belmont Shore (Bsd) Tenant Pays Electricity Total Actual Rent 139000.00 Total Expenses 35.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Michael Roland of Coldwell Banker Coastal Alliance


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-28T07:25:35.5. 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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