6
See all 6 photos
$1,275,000
Est. payment /mo
6,802 Sqft Lot
Price Dropped by $50K
1021 E 12th ST Long Beach, CA 90813
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW24250938
Originating Board California Regional MLS
Year Built 1910
Lot Size 6,802 Sqft
Property Description
5 Unit apartment building on a large 6,800 SF lot in Long Beach! This property has 2 buildings, a front house consisting of a 4 Bedroom / 2 Bath ~1,398 SF and a separate back building ~ 2,100 SF consisting of 4 ALL 1-Bedroom/1-Bath units! This property has on ONSITE laundry room that brings in additional income! Parking for about 7 cars onsite! This property currently brings in $8,629/month in gross rental income. Currently operating at a CAP rate of 5.1 CAP and 12.6 X GROSS! This is great investment opportunity with upside potential through renovations/rent increases. Located close to downtown Long Beach, shopping and restaurants and offering easy access to Alamitos Beach, 4th Street!
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Wall Furnace
Cooling None
Laundry In Laundry Room
Exterior
Parking Features Other
Garage Spaces 7.0
Pool None
Building
Water District - Public
Others
Tax ID 7274006008
Special Listing Condition Not Applicable
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Listed by Kristina Moore • The Moore Group