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1531 W 19th Street , 1-6

Long Beach, CA 90810
  • $1,650,000
  • STATUS: Active
  • ON SITE: 17 Days
  • ID#: PW24021012
UPDATED: 33 min ago
$1,650,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1959
County:

School Ratings & Info

Listing Agent(s): Paul Gustin of Coldwell Banker Realty (562-494-4600)


Description

Outstanding opportunity to bolster your investment portfolio with this bread and butter 6 unit residential income property in West Long Beach, CA. All units are 2 bedrooms and one bathroom with updated interiors. The six units are rented with the property offering a 6.02% cap rate and 11.87 GRM based on current rents, 2023 actual expenses and an estimated new property tax amount. 12 uncovered, tandem parking spaces located in the rear of the building and a convenient onsite laundry room. Popular rental area of Long Beach with close proximity to the Port, Harbor, Terminal Island and neighboring cities such as San Pedro, Harbor City and Torrance. This property has been well maintained and self-managed by owners for over 15 years.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T21:32:58.127. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brianna Miller | Synergy Real Estate. Licensed in the State of California, USA.
www.briannasellshomes.com/homes/147276888
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1531 W 19th Street , 1-6 Long Beach, CA 90810

  • Price: $1,650,000
  • Status: Active
  • On Site: 17 Days
  • Updated: 33 min ago
  • ID#: PW24021012
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1959
Built
Neighborhood:
Westside/South Of Willow (Wsw)
County:
Los Angeles
Area:
11 - Westside
Property Description
Outstanding opportunity to bolster your investment portfolio with this bread and butter 6 unit residential income property in West Long Beach, CA. All units are 2 bedrooms and one bathroom with updated interiors. The six units are rented with the property offering a 6.02% cap rate and 11.87 GRM based on current rents, 2023 actual expenses and an estimated new property tax amount. 12 uncovered, tandem parking spaces located in the rear of the building and a convenient onsite laundry room. Popular rental area of Long Beach with close proximity to the Port, Harbor, Terminal Island and neighboring cities such as San Pedro, Harbor City and Torrance. This property has been well maintained and self-managed by owners for over 15 years.
Exterior Features

Direction Faces West Entry Level 1 Entry Location 1 Exterior Features Lighting Fencing Wrought Iron Lot Features Near ParkNear Public TransitRectangular Lot Number Of Separate Electric Meters 6 Open Parking Spaces 12 Parking Features Off StreetPavedOne SpaceTandemUncovered Parking Total 12 Pool Features None Pool Private YN No Property Attached YN No Spa Features None Spa YN No View Neighborhood View YN Yes

Interior Features

Accessibility Features No Stairs Appliances DishwasherGas OvenGas Range Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring CarpetLaminateTile Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(s)Laminate Counters Window Features Blinds

Property Features

Additional Parcels YN No Cap Rate 6.02 Common Interest None Community Features UrbanGatedPark Contingency Seller(s) replacement property(s). Buyer to cooperate with seller's 1031 tax deferred exchange. Disclosures Rent Control Electric Expense 360 Garage YN No Gross Income 138894 Gross Scheduled Income 138894 Insurance Expense 4022 Land Lease YN No Laundry Features Common AreaLaundry Room Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional1031 Exchange Maintenance Expense 4332 Net Operating Income 99340 New Construction YN No New Taxes Expense 20000 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 39554 Other Expense 2500 Pest Control Expense 2000 Possession Close Of Escrow Property Sub Type Mixed Use Rent Control YN Yes Security Features Gated CommunitySmoke Detector(s)Security LightsWindow Bars Senior Community YN No Sewer Unknown Special Listing Conditions Standard Supplies Expense 120 Tenant Pays Cable TVElectricityGasTrash Collection Total Actual Rent 138516 Trash Expense 0 Utilities Cable Available Water Sewer Expense 4560 Water Source See Remarks Zoning LBR2N



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T21:32:58.127. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brianna Miller | Synergy Real Estate. Licensed in the State of California, USA.
 
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Brianna Miller | Synergy Real Estate
140 N. Harvard Avenue #341
Claremont CA, 91711
Listing Agent(s): Paul Gustin of Coldwell Banker Realty (562-494-4600)