Prime 5-Unit Multifamily Investment Opportunity in Long Beach
Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU.
FOR SALE: $1,850,000 – Owner’s Loss, Investor’s Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors.
Additional Expansion Opportunity with 2 Fully Permitted ADU Plans:
The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%.
Property Highlights:
• Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually).
• Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space.
• Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on quality and value. Each bid projected a similar build time of eight months. To ensure thorough vetting, we partnered with BuildZoom, who reviewed all proposals, helped reduce additional costs, and confirmed we hired the optimal contractor. BuildZoom also closely collaborated with the architect and design team to manage revisions and secure city approvals.
• Construction Ready to begin with a 8 month build timeline and total build cost of $434,000.
• Investment Potential: After completion, the property will offer 5 units, a projected ARV of $2.6M, proforma cash flow of $140,000 annually, and a cap rate of 6.07%.
• Prime Location: Situated in a vibrant Long Beach neighborhood, with easy access to schools, parks, dining, and the beach.
This is a rare opportunity to acquire a high-performing investment property with significant upside potential. Whether you''re a seasoned investor or looking to expand your portfolio, 826 Rose Ave is a must-see!
Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU.
FOR SALE: $1,850,000 – Owner’s Loss, Investor’s Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors.
Additional Expansion Opportunity with 2 Fully Permitted ADU Plans:
The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%.
Property Highlights:
• Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually).
• Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space.
• Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on quality and value. Each bid projected a similar build time of eight months. To ensure thorough vetting, we partnered with BuildZoom, who reviewed all proposals, helped reduce additional costs, and confirmed we hired the optimal contractor. BuildZoom also closely collaborated with the architect and design team to manage revisions and secure city approvals.
• Construction Ready to begin with a 8 month build timeline and total build cost of $434,000.
• Investment Potential: After completion, the property will offer 5 units, a projected ARV of $2.6M, proforma cash flow of $140,000 annually, and a cap rate of 6.07%.
• Prime Location: Situated in a vibrant Long Beach neighborhood, with easy access to schools, parks, dining, and the beach.
This is a rare opportunity to acquire a high-performing investment property with significant upside potential. Whether you''re a seasoned investor or looking to expand your portfolio, 826 Rose Ave is a must-see!
Property Details
Price:
$1,850,000
MLS #:
OC24224912
Status:
Active
Baths:
0
Address:
826 Rose Avenue
Type:
Residential Income
Subtype:
Triplex
Neighborhood:
4downtownareaalamitosbeach
City:
Long Beach
Listed Date:
Oct 31, 2024
State:
CA
ZIP:
90813
Lot Size:
5,905 sqft / 0.14 acres (approx)
Year Built:
1923
See this Listing
Mortgage Calculator
Schools
Interior
Exterior
Community
55+
Community Features
Biking, Curbs, Dog Park, Fishing, Golf, Gutters, Park, Sidewalks, Storm Drains, Street Lights
Fencing
Wrought Iron
Garage Spaces
3.00
Lot Features
2-5 Units/ Acre, Near Public Transit, Value In Land
Parking Features
Assigned
Parking Spots
3.00
Pool Features
None
Roof
Spanish Tile
Security Features
Carbon Monoxide Detector(s), Security Lights, Security System, Smoke Detector(s)
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
None
Water Source
Public
Financial
Tenant Pays
Cable T V, Electricity, Gas, Telephone
Map
Community
- Address826 Rose Avenue Long Beach CA
- Area4 – Downtown Area, Alamitos Beach
- CityLong Beach
- CountyLos Angeles
- Zip Code90813
Similar Listings Nearby
- 219 W 9th Street
Long Beach, CA$2,400,000
1.41 miles away
- 386 Mira Mar Avenue
Long Beach, CA$2,395,000
1.37 miles away
- 811 Gardenia Avenue
Long Beach, CA$2,395,000
0.03 miles away
- 833 E 1st Street
Long Beach, CA$2,350,000
0.99 miles away
- 1880 Cedar Avenue
Long Beach, CA$2,300,000
1.73 miles away
- 1004 E 5th Street
Long Beach, CA$2,300,000
0.66 miles away
- 930 Belmont Avenue
Long Beach, CA$2,300,000
1.43 miles away
- 1135 E 3rd Street
Long Beach, CA$2,250,000
0.67 miles away
- 757 Freeman Avenue
Long Beach, CA$2,250,000
0.78 miles away
- 1512 N Stanton Place
Long Beach, CA$2,200,000
0.68 miles away
Courtesy of Coldwell Banker Platinum Prop. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
826 Rose Avenue
Long Beach, CA
LIGHTBOX-IMAGES