12
See all 12 photos
$1,725,000
Est. payment /mo
5,451 Sqft Lot
Price Dropped by $125K
1020 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 CRSB25017558
Originating Board California Regional MLS
Year Built 1960
Lot Size 5,451 Sqft
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 6.78% cap rate and 10.28 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
Area 699 - Not Defined
Interior
Laundry Other
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 7274007003
Special Listing Condition Not Applicable
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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.