Nine-unit apartment building located in the Wrigley area of Long Beach, on a quiet residential street near the major cross streets of Long Beach Boulevard & Willow Street. 266 E 25th is located in an area with upside potential, offering a mix of (2) 2 Bed/1 Bath units, (6) 1 Bed/1 bath units and (1) Single unit. Property features include 6 private garages, separate utility meters, a laundry room with 1 washer/1 dryer and a gated perimeter, all of which support tenant security and convenience. Residents enjoy convenient access to nearby shopping and access to the Pacific Coast Metro, the 405 and 710 freeways. A 10-15 min drive to downtown Long Beach, Cal State Long Beach and the Long Beach Airport. Long Beach's strong rental market provides a new owner with the opportunity to take advantage of the high demand in this area. With current rents below market rates, this 9-unit building is an attractive investment opportunity for those looking to capitalize on its upside potential.
The income description goes here to explain
List Price | $1,995,000 |
Property Type | Multi-Family |
Usable Sqft | 6,182 |
Number of Stories | 2 stories |
Parking Spots | 6 spots |
Year Built | 1959 |
Last Sold | Unknown |
Sold Price | Unknown |
APN # | 7208011010 |
MLS # | 24455767 |
Property ID | 292029921 |
Lot Sqft | 6,632 |
Zoning | LBR2N |
Total Units | 9 |
Days on Market | 18 |
Original List Price | $1,995,000 |
Date Updated | October 31, 2024 |
Date Created | October 23, 2024 |
Unit # | Beds | Baths | Current Rent | Proforma Rent |
Unit #1 | 0 | 1.00 | $1,028 | $1,195 |
Unit #2 | 2 | 1.00 | $1,514 | $1,850 |
Unit #3 | 1 | 1.00 | $1,401 | $1,650 |
Gross Income (Yr) | $ 149,545 |
Operating Expenses | $ 48,523 |
Net Income (Yr) | $ 101,022 |
Cap Rate | 5.00% |
Jacqueline Knoll an agent of . Lic #01726333
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2708 Wilshire Blvd #197
Santa Monica, CA 90403
California ## 01956587
Florida #CQ1065233
Robert Crawford
REAL ESTATE AGENT