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Listed by Kristina Moore • The Moore Group
$ 1,275,000
Est. payment /mo
Price Dropped by $50K
1021 East 12th Street Long Beach, CA 90813
3,498 SqFt
UPDATED:
02/25/2025 06:33 AM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,498 sqft
Price per Sqft $364
Subdivision Downtown
MLS Listing ID PW-24250938
Year Built 1910
Lot Size 6,802 Sqft
Property Description
5 Unit apartment building on a large 6,800 SF lot in Long Beach! This property has 2 buildings, a front house consisting of a 4 Bedroom / 2 Bath ~1,398 SF and a separate back building ~ 2,100 SF consisting of 4 ALL 1-Bedroom/1-Bath units! This property has on ONSITE laundry room that brings in additional income! Parking for about 7 cars onsite! This property currently brings in $8,629/month in gross rental income. Currently operating at a CAP rate of 5.1 CAP and 12.6 X GROSS! This is great investment opportunity with upside potential through renovations/rent increases. Located close to downtown Long Beach, shopping and restaurants and offering easy access to Alamitos Beach, 4th Street!
Location
State CA
County Los Angeles
Zoning LBR4R
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Laundry Individual Room
Exterior
Parking Features Asphalt, Driveway
Pool None
Community Features Suburban
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer