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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
$ 1,850,000
Est. payment | /mo
4,698 SqFt
$ 1,850,000
Est. payment | /mo
4,698 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,698 sqft
Price per Sqft $393
MLS Listing ID CRSB25017558
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1960
Lot Size 5,451 Sqft
Property Sub-Type Other
Property Description
1020 E 12th St, Long Beach is the ideal investment opportunity for anyone looking for great cash-flow and low maintenance/renovated - the property is currently operating at 6.24% cap rate and 11.03 GRM. All units are renovated with new floors, cabinets, appliances, fixtures and windows. All units are renting at or near market rents. The subject property is comprised of (8) 1Bed+1Bath units, 5 of which are rented to Sec. 8/A.F.H. - guaranteed income! 1020 E 12th St has plenty of parking, which collects $400/month in additional income. There is also a laundry room on site that collects income. Beneficial for the new owner, the property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block and Queen Mary Island. OM in supplements.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Inside
Building
Water Public
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Adam Shoop
Broker Associate at Exp Realty | Lic# 1782227