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717 E 8th Long Beach, CA 90813
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Key Details
Sold Price $1,020,125
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB25232103
Bedrooms 7
Lot Size 5,001 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
High income totally updated 4 unit property in Downtown Long Beach with a 4 bed, 2.5 bath front house full of character plus three 1 bed, 1 bath units in the rear. All units recently updated, newer roof, replaced stairs, landscaping and exterior refresh completed. Very well priced on income at 11.3X GRM on actuals and a 5.7% cap rate with upside to 10.7X GRM and a 6.1% cap rate on market rents. 2 garages in rear structure plus driveway parking for 3 cars by the front house. Potential for ADU conversion in rear garages. Separately metered for gas and electric, allowing a low expense building. Great location right in Downtown Long Beach just North of the East Village Arts District. Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development. Only 8 blocks to the beach.
Location
State CA
County Los Angeles
Zoning Assessor
Exterior
View Y/N No
Roof Type Composition
Building
Story 2
Read Less
Bought with NONE NONE None MRML
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