Twitter
Facebook
Email
|
Turnkey 10-Unit Property in Prime North East Village - Priced to Sell! Located in the vibrant and densely populated North East Village neighborhood, this fully stabilized 10-unit property is an exceptional investment opportunity. Priced at just $185K per unit, it is currently operating at a 9.47 Gross Rent Multiplier (GRM) and a 6.2% cap rate based on current rents. At market rent levels, the GRM improves to 8.90, and the cap rate increases to 6.8%. The unit mix includes 7 studios, 2 one-bedrooms, and 1 two-bedroom unit. All units have been remodeled, and major upgrades"”including a new roof and updated electrical panel"”were completed in 2024. The building is master-metered with a RUBS (Ratio Utility Billing System) in place, currently recapturing 60% of utility expenses. An on-site coin-operated laundry room adds convenience for tenants and generates additional income. The exterior has been freshly painted, enhancing curb appeal. Ideally situated near St. Mary Medical Center, downtown Long Beach, the beach, and major freeways, this property offers excellent accessibility and strong rental demand. Don't miss this rare opportunity to acquire a turnkey asset at an attractive price. (Virtual Staging)
| DAYS ON MARKET | 118 | LAST UPDATED | 8/29/2025 |
|---|---|---|---|
| YEAR BUILT | 1922 | COMMUNITY | 4 - Downtown Area, Alamitos Beach |
| COUNTY | Los Angeles | STATUS | Conditional |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Whole House Fan |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 4 - Downtown Area, Alamitos Beach |
| HEAT | Wall Furnace |
| LOT | 6290 sq ft |
| PARKING | None |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| UTILITIES | Electricity Available, Natural Gas Available |
| VIEW DESCRIPTION | None |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
| / | |
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 9/26/25 8:11 PM 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.