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$ 1,409,000
Est. payment | /mo
3,714 SqFt
$ 1,409,000
Est. payment | /mo
3,714 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,714 sqft
Price per Sqft $379
MLS Listing ID CL26633867
HOA Y/N No
Year Built 1923
Lot Size 2,400 Sqft
Acres 0.0551
Property Sub-Type Other
Property Description
PRICE REDUCED AND READY TO SELL AT 9.5 GRM. 8 units (all studios) in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). NO Local Rent Control in Long Beach. Located on a beautiful, quiet, tree lined street just blocks from Downtown Long Beach. All units have been updated including new kitchens, baths and paint. Electrical subpanels were updated in 2024. The main panel is 200 AMPS (Buyer to verify). The property is professionally managed and well maintained. All units have W/Ds in them. Upside in rents to a 9.2 GRM. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Qualified Buyers can put down as little as 25% with excellent bank financing fixed at 5.4% for 5-years.
Location
State CA
County Los Angeles
Zoning LBPD10
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 7272019004
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Listed by Jonathan Swire • The Agency
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Patrick Nagel
REALTOR® | Lic# 1760790