$3,250,000
$3,599,000
9.7%For more information regarding the value of a property, please contact us for a free consultation.
10,560 SqFt
SOLD DATE : 08/22/2023
Key Details
Sold Price $3,250,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 10,560 sqft
Price per Sqft $307
MLS Listing ID CROC22247751
Sold Date 08/22/23
HOA Y/N No
Year Built 1987
Lot Size 8,150 Sqft
Acres 0.19
Property Sub-Type Other
Property Description
$400,000 PRICE REDUCTION! ATTENTION INVESTORS and 1031 EXCHANGE BUYERS! POTENTIAL: Premium custom built with excellent floor plans, 12 units in the coastal city of Long Beach. Close to downtown, schools, memorial hospital, shopping and entertainment areas, close to Metro Line, 405 and 710 freeways. Building has over 10,000 sq ft of livable area over its 12 units. Here are 10 reasons why this can be the best investment in Long Beach! 1. More than 56% rental increase potential giving 6.7% Cap Rate (absentee owners). 2. Largest sq ft per unit in the area. 3. Lowest price per sq ft on sold or listed similar properties. 4. Fully secured and gated, with covered 19 car garage (3 uncovered spots). 5. Beautifully large 12 units, with 9 units 2B/2Ba, 1 unit 2B/1B and only 2 units 1B/1Ba. 6. On-site laundry. 7. Most units maintained well & remodeled (see supplement for details). 8. Custom built in 1987 and well maintained (not the 1930's and 40's). 9. Covered balconies, with some having awesome city views. 10. Extremely desirable and low vacancy rental area. Particularly because of secured and covered parking. Excellent 1031 Exchange property for investors who want to become an owner in this city, which currently has over $8B in development occurring. SUBJECT PROPERTY IS A 1031 EXCHANGE, NE
Location
State CA
County Los Angeles
Zoning LBR2
Interior
Fireplace No
Laundry Community Facility
Exterior
View Y/N true
View City Lights
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 7209026023
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© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with AvinashNarang
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