Residential Income Details
This Long Beach Spanish stucco triplex offers investors or owner-occupiers an exceptional value-added opportunity! With a newer roof, section 1 termite clearance, and a massive front yard, future owners are well on their way. With some polish and imagination, this property can yield an impressive cap rate and can become an asset to hold in one’s portfolio or re-sell for a handsome profit. The portion of the lot that is currently under-utilized can be re-configured so that the property has the neighborhood’s most sought-after amenity: off-street parking! The two upstairs 1/1 units have bright bathroom skylights, balconies, and cozy kitchens with granite countertops, dinning areas, ceiling fans, windows throughout, and period-correct arched windows in the living room. These can easily accommodate a 40%-50% rent increase from current gross income. The first floor 1/1 unit can also accommodate a reasonable 25% to 35% increase after a modest amount of value-add improvements. All units have a dedicated 1 car garage with an additional 2 off-street spots on the parking pad behind the building. This property is listed below the sale price of DUPLEXES recently sold on the same trees-lined street/block… Don’t miss this opportunity! ...all of this in a great location about 8 blocks from the beach!
|Number of Units||3|
|Listing Brokerage||Coldwell Banker Platinum Prop|
|Listing Agent||Manuel Alvarez|
|Listing Agent BRE #||01928900|
Based on information from California Regional Multiple Listing Service, Inc. as of Thursday, October 11, 2018.
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.
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