**PRICE REDUCTION**
Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants.
The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2
miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists
of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear
house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This
building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during
the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out.
Price
$1,250,000
Price/Unit $312,500
Price/sqft $408
Current Cap Rate 5.35%
Market Cap Rate 6.26%
Current GRM 16.62
Market GRM 14.43
|
DAYS ON MARKET
|
155
|
LAST UPDATED
|
6/13/2025
|
|
TRACT
|
North Long Beach (NLB)
|
YEAR BUILT
|
1949
|
|
COMMUNITY
|
7 - North Long Beach
|
GARAGE SPACES
|
3.0
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Conditional
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Feb 25, '25
|
$1,250,000
|
|
Feb 25, '25 - Apr 23, '25 |
$1,200,000
|
| Apr 23, '25 - Today |
$1,175,000 |
| AREA |
7 - North Long Beach |
| GARAGE |
Yes |
| LOT |
5602 sq ft |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| SUBDIVISION |
North Long Beach (NLB) |
| WATER |
Public |
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Listed with Southland Property Group
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 6/15/25 9:28 AM PDT and /or other sources. 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
This IDX solution is (c) Diverse Solutions 2025.
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