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1865 Harbor Ave

Long Beach, CA 90810
  • $1,100,000
  • STATUS: Active Under Contract
  • ON SITE: 41 Days
  • ID#: SB22161416
Under Contract
UPDATED: 52 min ago
$1,100,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1948
County:

School Ratings & Info

Listing Agent(s): William Mulkey of Tr Wealth Management Inc. (310-316-1274)


Description

The subject is a 4 unit apartment building with a 3 bed 2 bathroom owners unit with 4 1 bedroom 1 bath units that are rented below market level. One of the 1 bedrooms is a non-conforming unit. This property is fully fully-leased multifamily property on the West-Side of Long Beach, CA 90810, built in 1963 according to assessors records. It is located west of the 710 Long Beach Freeway and just 2 short blocks from Pacific Coast Highway (1). The property is subject to rent control. There are 4 garages in the rear with a unit above them on the second level. There looks like there could be good potential for adding an ADU, but buyers should check with all resources at City and contractors to determine what could be built at this location. The current rents are 30% below the market, allowing for a new owner or manger to increase the potential for more return of cash flow.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-30T18:37:19.673. 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 Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
www.tolivebythesea.com/homes/132315344
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1865 Harbor Ave Long Beach, CA 90810

  • Price: $1,100,000
  • Status: Active Under Contract
  • On Site: 41 Days
  • Updated: 52 min ago
  • ID#: SB22161416
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1948
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
Property Description
The subject is a 4 unit apartment building with a 3 bed 2 bathroom owners unit with 4 1 bedroom 1 bath units that are rented below market level. One of the 1 bedrooms is a non-conforming unit. This property is fully fully-leased multifamily property on the West-Side of Long Beach, CA 90810, built in 1963 according to assessors records. It is located west of the 710 Long Beach Freeway and just 2 short blocks from Pacific Coast Highway (1). The property is subject to rent control. There are 4 garages in the rear with a unit above them on the second level. There looks like there could be good potential for adding an ADU, but buyers should check with all resources at City and contractors to determine what could be built at this location. The current rents are 30% below the market, allowing for a new owner or manger to increase the potential for more return of cash flow.
Exterior Features

Carport Spaces 4 Carport YN Yes Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 4 Parking Total 4 Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No

Interior Features

Appliances Gas OvenWater Heater Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Heating Wall Furnace Heating YN Yes Interior Features Tile Counters

Property Features

Association Fee 0 Association YN No Common Interest Community Apartment Community Features Street LightsSidewalks Contingency Cash To A New Loan Electric Expense 991 Fuel Expense 0 Garage YN No Gross Income 143089 Gross Scheduled Income 7978 Insurance Expense 1234 Land Lease YN No Laundry Features None Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional Net Operating Income 98383143 New Construction YN No Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 44706 Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 663 Water Sewer Expense 3864 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-30T18:37:19.673. 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 Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
 
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Beach City Brokers | BCB Premier Estates | The Miller Group
1716 South Catalina Avenue
Redondo Beach CA, 90277
Listing Agent(s): William Mulkey of Tr Wealth Management Inc. (310-316-1274)