1030 Myrtle Avenue
Long Beach, CA, 90813
$1,550,000
Beds
0 Baths
SqFt
0.15 Acres
Add
2005 construction and just outside of downtown Long Beach, this quadruplex has three large 3 bedroom 1 bathroom apartments, and one 1 bedroom 1 bathroom apartment. The strong income in place has this building at a GRM of 13.3X and a cap rate of 4.2%, and there is approximately 15% upside in the rents. The building features onsite laundry in select units, a large 2 car garage for each unit with extra parking on the driveway, and is separately metered for gas and electricity. There is a path to substantial upside via the conversion of some of the 8 garage spots to ADUs, as well as offsetting some of the expenses through the use of RUBS.

The building is just 3 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion. It offers excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000. (Per Costar)

Property Details

Price:
$1,550,000
MLS #:
SB25042498
Status:
Active
Baths:
0
Address:
1030 Myrtle Avenue
Type:
Residential Income
Subtype:
Quadruplex
Neighborhood:
4downtownareaalamitosbeach
City:
Long Beach
Listed Date:
Feb 14, 2025
State:
CA
ZIP:
90813
Lot Size:
6,535 sqft / 0.15 acres (approx)
Year Built:
2005
Ask a Question

See this Listing

Send
  

Mortgage Calculator

 

Schools

Interior

Accessibility Features
None
Appliances
Gas Oven, Gas Range
Cooling
None
Fireplace Features
None
Heating
Wall Furnace
Interior Features
Balcony

Exterior

Community Features
Urban
Electric
Standard
Fencing
Wrought Iron
Foundation Details
Slab
Garage Spaces
8.00
Lot Features
Rectangular Lot
Parking Features
Garage
Parking Spots
14.00
Pool Features
None
Roof
Flat
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
None
Water Source
Public

Financial

Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Map

Community

Similar Listings Nearby

1030 Myrtle Avenue
Long Beach, CA