$875,000
$900,000
2.8%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 05/03/2018
Key Details
Sold Price $875,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Belmont Heights (Bh)
MLS Listing ID PW18009119
Sold Date 05/03/18
Construction Status Turnkey,Under Construction
HOA Y/N No
Year Built 1923
Property Description
This well-maintained three-unit property is located in the heart of Belmont Heights in the city of Long Beach. The subject property is located at 3922 East Broadway, one street West of Termino Avenue, two blocks North of Ocean Boulevard. This investment consists of 2 one bedrooms/ one-bathroom units and a detached retail portion that offers parking in front of the property. Built in 1923, this property is a two-story building with approximately 2635 rentable square feet. Each unit is separately metered for gas and electricity. The property offers flat roofs, and on-site laundry. The retail portion of the property is located in the approved MM area of Long Beach and will benefit from the strong rents the industry is willing to pay. Located within close proximity to numerous restaurants and shopping corridors this property offers an investor the rare opportunity to acquire a well-maintained income property in a strong rental market in the most desirable community of Belmont Heights. With rents well below market value, and a strong retail operator any investor looking to add value could dramatically improve their cash flow by bumping rents up to market rate thus making this acquisition a valuable addition to any investor’s portfolio.
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Zoning LBCNP
Rooms
Ensuite Laundry In Garage
Interior
Laundry Location In Garage
Heating Wall Furnace
Fireplace No
Appliance Gas Cooktop, Gas Oven, Refrigerator
Laundry In Garage
Exterior
Garage Asphalt
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Water Available
Parking Type Asphalt
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre
Faces North
Foundation Raised
Sewer Public Sewer, Unknown
Water Public
New Construction No
Construction Status Turnkey,Under Construction
Others
Senior Community No
Tax ID 7256008085
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Financing Cash to Loan
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Juli Ackerman • Villa Real Estate
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
Scott Greenspan
Broker Owner