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Listed by AJ Nay • AJ Nay, Broker
$2,750,000
Est. payment /mo
4,966 Sqft Lot
Contingent
102 Argonne AVE Long Beach, CA 90803
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Key Details
Property Type Commercial
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CRPW25031111
Originating Board California Regional MLS
Year Built 1931
Lot Size 4,966 Sqft
Property Description
Income and expense are using projected market values and put property operating near a projected 6% Cap and 11X Gross (Current estimated 4.43% and 13.3X). Located in the affluent community of Belmont Shore, a Southern California beach community and "college town" being just a few minutes from CSU Long Beach. Both buildings (also for sale with 5290 Division: 8U for $2,150,000) are meticulously cared for, and both have been upgraded with copper plumbing, electrical breakers, and most unit interiors have been upgraded. The investments provide the opportunity to increase your return by increasing the rents to market and separate metering the building utilities, therefore, providing immediate lower overhead/increased cash flow and continued added value in the future with rising utility costs being transferred to the tenants. Laundry is leased and managed by a 3rd party offering further income upside by canceling the contract and installing your own machines. Some units are turning over and may be rented at rates and differ from current income rent roll stated below. Insurance rates stated here are estimates may not be current rate for new owner, so buyer must get own insurance quotes including flood insurance if needed. No parking, street parking only.
Location
State CA
County Los Angeles
Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr
Interior
Laundry Laundry Area, Washer/Dryer - Leased
Exterior
Parking Features No Parking, Off-Street Parking
Pool None
Roof Type Flat / Low Pitch
Building
Story Three or More Stories
Water District - Public
Others
Tax ID 7247016013
Special Listing Condition Not Applicable , Accepting Backups
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