1034 Newport Avenue
Long Beach, CA, 90804
$1,675,000
Beds
0 Baths
SqFt
0.14 Acres
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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.

Property Details

Price:
$1,675,000
MLS #:
SB24243567
Status:
Active
Baths:
0
Address:
1034 Newport Avenue
Type:
Residential Income
Subtype:
Quadruplex
Subdivision:
Circle CA
Neighborhood:
3eastsidecirclearea
City:
Long Beach
Listed Date:
Dec 3, 2024
State:
CA
ZIP:
90804
Lot Size:
6,251 sqft / 0.14 acres (approx)
Year Built:
1972
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2
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1034 Newport Avenue
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