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Listing Details

Status
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On Site
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On Market
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MLS #
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Neighborhood
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Type
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Built
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School Ratings & Info

Description

We are pleased to present a completely turn-key apartment building located in Long Beach, California. Built in 1959, the subject property consists of 6,450 rentable square feet spread throughout a 6,500 square foot lot. Eight units are 2 bedroom / 1 bathroom units and one unit is 3 bedroom / 2 bathroom. There are 6 garages and storage for tenant convenience and can also be used to generate income for the owner. It has a pitched roof and is also separately metered for gas and electricity which helps keep expenses to a minimum. There is also a laundry room which makes additional income. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to shops, restaurants, cafes, entertainment centers and grocery stores.The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was recently completed and opened in September 2013.Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market with strong in place income in one of the best neighborhoods of Long Beach.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T00:28:33.337. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
www.buysocal.homes/homes/119811989
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6107 Linden Avenue Long Beach, CA 90805

  • Price: $2,425,000
  • Status: Active
  • ID#: PW21165954
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1962
Built
Neighborhood:
North Long Beach (Nlb)
County:
Los Angeles
Area:
7 - North Long Beach
Property Description
We are pleased to present a completely turn-key apartment building located in Long Beach, California. Built in 1959, the subject property consists of 6,450 rentable square feet spread throughout a 6,500 square foot lot. Eight units are 2 bedroom / 1 bathroom units and one unit is 3 bedroom / 2 bathroom. There are 6 garages and storage for tenant convenience and can also be used to generate income for the owner. It has a pitched roof and is also separately metered for gas and electricity which helps keep expenses to a minimum. There is also a laundry room which makes additional income. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to shops, restaurants, cafes, entertainment centers and grocery stores.The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was recently completed and opened in September 2013.Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market with strong in place income in one of the best neighborhoods of Long Beach.
Exterior Features

Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 0 Parking Features Garage Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsSidewalks Electric Expense 5400 Fuel Expense 744 Garage YN Yes Gross Income 69454 Gross Scheduled Income 172740 Insurance Expense 744 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Net Operating Income 118645 New Construction YN No Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 53713 Rent Control YN No Senior Community YN No Sewer Public SewerSeptic Type Unknown Special Listing Conditions Standard Total Actual Rent 14395 Trash Expense 744 Water Sewer Expense 744 Water Source Private Zoning Lbr3t

Listing provided courtesy of Kevin King of Marcus & Millichap


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T00:28:33.337. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
 
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The Kohler Group | Zutila
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Irvine CA, 92604