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4308 E 4th St
For Sale $2,349,000 ($458.88 per Sq Ft)
$2,349,000 ($458.88 per Sq Ft)
- 8 Units
- 5,119 Sq Ft
- 6,751 Sq Ft
- Unknown Cap Rate
Description
PRICED TO SELL. 8 units on the Eastside of Long Beach in Belmont Heights - heavily remodeled in 2019 - over $400K in CAP EX spent. 11.4 GRM And 5.8% CAP against in-place rents. Excellent unit mix for the area with 1 and 2-bedroom units. 5 parking spaces in the rear (3 garages and 2 open). All units had new kitchens, baths, flooring, etc. in 2019. Well-maintained and professionally managed property. Property is subject to AB 1482 Rent Control (5% + CPI increase allowed). Exterior was updated in 2019 as well - new paint, windows, landscaping, lighting, etc. Put 30% Down. Excellent financing available for qualified Buyers - 5.25% 5-year fixed, fully amortized. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,349,000 |
| Property Type | Multi-Family |
| Usable Sqft | 5,119 |
| Number of Stories | 2 stories |
| Parking Spots | 3 spots |
| Year Built | 1953 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 7255036017 |
| MLS # | 25497543 |
| Property ID | 292003559 |
| Lot Sqft | 6,751 |
| Zoning | LBR3T |
| Total Units | 8 |
| Days on Market | 25 |
| Original List Price | $2,349,000 |
| Date Updated | February 20, 2025 |
| Date Created | February 12, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $1,950 | $1,950 |
| Unit #2 | 2 | 1.00 | $2,350 | $2,350 |
| Gross Income (Yr) | $ 206,000 |
| Operating Expenses | $ 64,000 |
| Net Income (Yr) | $ 135,000 |
| Cap Rate | 5.80% |
Listing Provided By
Jonathan Swire an agent of . Lic #01336277
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REAL ESTATE AGENT