1034 Newport Avenue
Long Beach, CA 90804
0.14 acres | #SB24243567
Description
4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and the entire property is gated and fully secured.
The property currently grosses approx $113,700 per year and is priced attractively at a real 4.31% CAP (actual) and a 14.73 GRM. At market rents the property is a 12.50 GRM and 5.45% CAP. Approx 18% upside in current rents.
Property Details
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- SubdivisionCircle (CA)
- CountyLos Angeles
- Original List Price$1,675,000
- MLS #SB24243567
- Property SubtypeQuadruplex
- MLS #SB24243567
- Cost1675000
- Acres0.1435
- Utility SourcePublic
- Lot DescriptionLevel
- Year Built1972
- Stories2
- Parking Spaces5
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Brian Estes (#SESTEBRI)
Listing Office: Re/Max Commercial & Investment (#s1158)
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