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MULTI_FAMILY - Long Beach, CA
Priced to sell at 9.65 GRM and 6.8% CAP with upside to 9 GRM and a 7.6% CAP. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on a beautiful, quiet, tree lined street. The property was purchased in 2018 and completely remodeled down to the studs. Everything is new - plumbing, electric, interiors, windows, etc. - Seller spent over $400K total. The property is professionally managed and well maintained. There are 2 structures on the lot - 2 large 1 bedrooms in the front, and 7 studio units in the rear. The property also has 9 storage spaces that could be rented out for $75-100 per month each. There is onsite laundry as well. Qualified Buyers can put down as little as 25%. EARN OVER A 12% CASH ON CASH RETURN AGAINST IN PLACE RENTS. Contact LA for more info including a Rent Roll and OM.
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