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.
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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Schools
Interior
Exterior
Community Features
Suburban
Garage Spaces
5.00
Lot Features
Level
Parking Spots
5.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Association Fee
0.00
Map
Community
- Address1034 Newport Avenue Long Beach CA
- Area3 – Eastside, Circle Area
- SubdivisionCircle (CA)
- CityLong Beach
- CountyLos Angeles
- Zip Code90804
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Courtesy of Re/Max Commercial & Investment. 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.
1034 Newport Avenue
Long Beach, CA
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