1921 E Washington Street
Long Beach, CA 90805
0.13 acres | #PW25003991
Description
Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants.
The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2
miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists
of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear
house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This
building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during
the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out.
Price
$1,250,000
Price/Unit $312,500
Price/sqft $408
Current Cap Rate 5.35%
Market Cap Rate 6.26%
Current GRM 16.62
Market GRM 14.43
Property Details
- SubdivisionNorth Long Beach (NLB)
- Lot DescriptionZeroToOneUnitAcre
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$1,250,000
- MLS #PW25003991
- Property SubtypeQuadruplex
- MLS #PW25003991
- Cost1250000
- Acres0.1286
- Utility SourcePublic
- Year Built1949
- Stories2
- Parking Spaces3
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Perry Karn (#PWKARNPE)
Listing Office: Southland Property Group (#PB20771)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
