767 Freeman AVE new Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90804
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID PW25182759
HOA Y/N No
Year Built 1961
Lot Size 6,751 Sqft
Property Sub-Type Apartment
Property Description
Excellent cash flow building in prime Eastside Long Beach area. 7 units total, four garages with 4 parking spaces in front of garage. All unit doors face south for lots of natural light and share common back yard space for happy tenants. Common area laundry room for convenience. All units have been well maintained and upgraded, granite counters, low maintenance tile flooring and updated bathrooms. Very little deferred maintenance. Great location. Rose Park is right around the corner, walking distance to shops and restaurants on 4th Street, 7th Street and Redondo. Current monthly income 13,610 (163,320 annual). GRM is 11.6x. Cap rate with 35% expenses is 5.6%. Market rents are 2,250 with garage and 2050 without. Building has been professionally managed with great tenants. The building is the perfect combination of a quality and cash flow. Units show very well as they are upgraded upon vacancy. This is an easy building to own and manage with additional upside.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBR2N
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Street Lights,Sidewalks
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
Total Parking Spaces 4
Private Pool No
Building
Lot Description Back Yard
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7258019020
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard