1377 Warren Ave, Long Beach, CA, 90813
Property Details
4
3
multi family
Description
Multi Family in Long Beach, CA - Bedrooms: 4 - Bathrooms: 3 - Area: 4944 sqft - Year Built: 1922 - Lot: 5702 sqft
Listing Agent: Jon Swire Brokerage: The Agency
PRICED TO SELL. 8.7 GRM AND 7.0% CAP WITH UPSIDE TO A 8.1 GRM AND 7.9% CAP. 11 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (you can increase 8.0% this year). The property is professionally managed and well-maintained. The property is MASTER METERED for all utilities and as such, there is an opportunity for a new owner to either implement a RUBS program or increase rents to cover these costs. Electrical updated in the past 3 years. Qualified Buyers can put as little as 25% down and earn over a 12% cash on cash return against in-place rents. EMAIL LA FOR MORE INFORMATION INCLUDING A CURRENT RENT ROLL AND EXPENSES.
Location
Address
1377 Warren Ave, Long Beach, CA, 90813
City
Long Beach
Features and Finishes
Bedrooms: 4, Total Bathrooms: 11, Full Bathrooms: 3, Heating Features: Wall, Lot Size Acres: 0.1309, Lot Size Source: Vendor Enhanced, Lot Size Square Feet: 5700, Number of Buildings: 2, Number of Units: 11, Unit Type: Income, Bedrooms in Unit-1: 0, Bedrooms in Unit-2: 1, Bedrooms in Unit-3: 2, Total Bathrooms in Unit-1: 1, Total Bathrooms in Unit-2: 1, Total Bathrooms in Unit-3: 1, Full Bathrooms in Unit-1: 1, Full Bathrooms in Unit-2: 1, Full Bathrooms in Unit-3: 1, Unit 1 Total Actual Rent: 1395, Unit 2 Total Actual Rent: 1595, Unit 3 Total Actual Rent: 1795, Gross Income: 186000, Gross Scheduled Income: 186000, Source Listing Status: Active, County: Los Angeles, Cap Rate: 7, Directions: 11 units in Long Beach NOT subject to local Rent Control., Source Property Type: Residential Income, Area: Poly High, Source Neighborhood: Poly High, Parcel Number: 7268-042-011, Zoning: LBR2N, Net Operating Income: 122000, Operating Expense: 64000, Total Square Feet Living: 4944, Year Built: 1922,
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