1034 Newport Avenue Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90804
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,170 sqft
Price per Sqft $401
Subdivision Circle
MLS Listing ID SB-24243567
Year Built 1972
Lot Size 6,251 Sqft
Property Description
4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and the entire property is gated and fully secured. The property currently grosses approx $113,700 per year and is priced attractively at a real 4.31% CAP (actual) and a 14.73 GRM. At market rents the property is a 12.50 GRM and 5.45% CAP. Approx 18% upside in current rents.
Location
State CA
County Los Angeles
Zoning LBR4R
Interior
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 5.0
Pool None
Community Features Suburban
Building
Lot Description Level
Sewer Public Sewer