Residential Income Details
I am proud to offer a well-maintained four-unit property in the in the city of Long Beach. The subject property is located at 3211 East Wilton Street, one street West of Redondo Avenue, two blocks South of Pacific Coast Highway. The owner has recently done an amazing rehab on two of the units this year, and the rehab includes; new kitchens, new cabinets, new counter tops, new stove, new stove hood, new bathroom with shower walls, and amazing hardwood flooring throughout. The units show amazing and appease the professional renter. The property also includes an abundance of parking which is very rare for the city. Including 1 two car garage, 3 single car garages with some open spaces with the potential to park nine cars. Built in 1923, this property is a two-story building walk up style with approximately 2635 rentable square feet that are highlighted with an open-floor flan.
Located within close proximity to numerous restaurants and shopping corridors this property offers an investor the rare opportunity to acquire a well-maintained income property in a strong rental market in the most desirable community of East Long Beach. With rents 14% below market value, any investor looking to add value could have a 6% capitalization rate by accessing the rental upside and adding addition income by renting out highly sought-after parking in the area, thus making this acquisition a valuable addition to any investor’s portfolio.
|Number of Units||4|
|Listing Brokerage||Justin White|
|Listing Agent||Justin White|
|Listing Agent BRE #||01267826|
Based on information from California Regional Multiple Listing Service, Inc. as of Saturday, September 22, 2018.
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