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1246 E 2ND St

Long Beach, CA 90802
  • $7,995,000
  • STATUS: Active
  • ON SITE: 53 Days
  • MLS #: 22-140533
UPDATED: 70 min ago
$7,995,000
  • 24
    BEDS
  • 0.29
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 14,293
    SQFT
  • $559
    $/SQFT
Type:
Multi-Family
Built:
1954
County:

School Ratings & Info

Description

20 units located blocks from the Beach in Alamitos Beach in Long Beach. All units have been heavily updated including new kitchens, baths and windows. There is no work to be done. The property is professionally maintained and in excellent condition. There is some rental upside a new Owner can achieve by raising rents. The property features onsite laundry as well a 9 garages that can be rented for $150/month. There is currently an existing TD fixed at 3.3% (originated in 7/21) for 5 years with 3 years of I/O (runs through 7/24). The loan amount is $4.550.000 and has a 3% prepay until 7/23. Buyer to assume the existing TD or be responsible for the prepay. However, given today's interest rates, this is a better loan than available on the market. EMAIL LA1 FOR MORE INFO INCLUDING A RENT ROLL.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-21T19:43:08.653. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/127131280
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1246 E 2ND St Long Beach, CA 90802

  • Price: $7,995,000
  • Status: Active
  • On Site: 53 Days
  • Updated: 70 min ago
  • MLS #: 22-140533
24
Beds
0
Baths
0
½ Baths
0.29
Acres
14,293
SQFT
$559
$/SQFT
1954
Built
Neighborhood:
Downtown Area, Alamitos Beach
County:
Los Angeles
Area:
Downtown Area, Alamitos Beach
Property Description
20 units located blocks from the Beach in Alamitos Beach in Long Beach. All units have been heavily updated including new kitchens, baths and windows. There is no work to be done. The property is professionally maintained and in excellent condition. There is some rental upside a new Owner can achieve by raising rents. The property features onsite laundry as well a 9 garages that can be rented for $150/month. There is currently an existing TD fixed at 3.3% (originated in 7/21) for 5 years with 3 years of I/O (runs through 7/24). The loan amount is $4.550.000 and has a 3% prepay until 7/23. Buyer to assume the existing TD or be responsible for the prepay. However, given today's interest rates, this is a better loan than available on the market. EMAIL LA1 FOR MORE INFO INCLUDING A RENT ROLL.
Exterior Features

Lot Size Area 12423 Other Structures None Parking Garage Garage Total Parking 9

Interior Features

Baths Total 21.00 Cooling None Equipment None Heating Wall

Property Features

Assessed Total Value 6314750 Gross Income 433500 Gross Operating Income 433500 Like Units1 3 Net Operating Income 257500.00 Number Of Buildings 1 Number Of Units 20 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 163000 Type Of Units Income Year Built Source Vendor Enhanced Zoning Lbr4r

Listing provided courtesy of Jonathan Swire DRE#01336277 of The Agency.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-21T19:43:08.653. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The John Jay Group - Bennion Deville Homes
74996 Highway 111
Indian Wells CA, 92210