435 W 11th Street Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,395 sqft
Price per Sqft $303
MLS Listing ID CL25528237
Year Built 1936
Lot Size 9,685 Sqft
Property Sub-Type Other
Property Description
PRICE REDUCED AND READY TO SELL. Priced at UNDER 10 GRM and 6.6% CAP with upside to 8.5 GRM and a 8.2% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side blocks from Downtown Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. Rents have not been raised in over a year. A new owner can raise rents to market and achieve a 8.5 GRM and 8.2% CAP. Earn over a 14% cash-on-cash return at market rents. Qualified Buyers can put as little as 25% down. EMAIL LISTING AGENT FOR MORE INFO, INCLUDING A RENT ROLL AND OM.
Location
State CA
County Los Angeles
Zoning LBPD
Interior
Heating Wall Furnace
Cooling None
Building
New Construction No