Skip To Content
    Return to Previous Page

    4115 E 1st Street

    Long Beach, CA 90803
    • $2,165,000
    • STATUS: ACTIVE
    • ON SITE: 245 days
    • ID#: 302526550
    UPDATED: 71 min ago
    $2,165,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1944
    County:

    School Ratings & Info

    Description

    Seller has replacement property in escrow, short escrow is OKAY. UPSIDE IS SIGNIFICANT, please see supplement link- re current Rent Roll and History. This pride of ownership easy-to-manage 8-plex has all the potential to operate easily at 100% occupancy at all times, at premium rents, as these are larger home-like units with front and rear doors, sun-filled all day every day, all units are South-facing balcony style on the premier corner End-Cap of First Street (corner of Roswell), with curb parking just Seller has replacement property in escrow, short escrow is OKAY. UPSIDE IS SIGNIFICANT, please see supplement link- re current Rent Roll and History. This pride of ownership easy-to-manage 8-plex has all the potential to operate easily at 100% occupancy at all times, at premium rents, as these are larger home-like units with front and rear doors, sun-filled all day every day, all units are South-facing balcony style on the premier corner End-Cap of First Street (corner of Roswell), with curb parking just outside the front door. These are beautiful when refinished (several are currently refinished), with hardwood floors, eat-in kitchens and windows galore. Plus new roof and stairway, railings and paint. This is in a very desirable location of Belmont Shore, just a block from the beach, fitness center and bike path, with access to Livingston Drive for easy commuting, and a short stroll to Second Street shops and Restaurants. These are home-like and could easily operate at $1400-$1500 ultimately, which would yield a CAP of 4+% and GRM of 15.5x with income from parking and laundry ($45 /mo average. This is a portfolio property with stability and appeal, one to hold forever and hand to the kids, or an investment quality property with room to optimize performance. PLEASE DRIVE BY run your matrix and bring an offer.

    Monthly Payment Calculator

    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.callstein.com/homes/105947475
    Print Image

    4115 E 1st Street Long Beach, CA 90803

    • Price: $2,165,000
    • Status: ACTIVE
    • Updated: 71 min ago
    • ID#: 302526550
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    1944
    Built
    Neighborhood:
    Long Beach (90803)
    County:
    Los Angeles
    Area:
    Long Beach (90803)
    Property Description
    Seller has replacement property in escrow, short escrow is OKAY. UPSIDE IS SIGNIFICANT, please see supplement link- re current Rent Roll and History. This pride of ownership easy-to-manage 8-plex has all the potential to operate easily at 100% occupancy at all times, at premium rents, as these are larger home-like units with front and rear doors, sun-filled all day every day, all units are South-facing balcony style on the premier corner End-Cap of First Street (corner of Roswell), with curb parking just Seller has replacement property in escrow, short escrow is OKAY. UPSIDE IS SIGNIFICANT, please see supplement link- re current Rent Roll and History. This pride of ownership easy-to-manage 8-plex has all the potential to operate easily at 100% occupancy at all times, at premium rents, as these are larger home-like units with front and rear doors, sun-filled all day every day, all units are South-facing balcony style on the premier corner End-Cap of First Street (corner of Roswell), with curb parking just outside the front door. These are beautiful when refinished (several are currently refinished), with hardwood floors, eat-in kitchens and windows galore. Plus new roof and stairway, railings and paint. This is in a very desirable location of Belmont Shore, just a block from the beach, fitness center and bike path, with access to Livingston Drive for easy commuting, and a short stroll to Second Street shops and Restaurants. These are home-like and could easily operate at $1400-$1500 ultimately, which would yield a CAP of 4+% and GRM of 15.5x with income from parking and laundry ($45 /mo average. This is a portfolio property with stability and appeal, one to hold forever and hand to the kids, or an investment quality property with room to optimize performance. PLEASE DRIVE BY run your matrix and bring an offer.
    Exterior Features

    Pool N/K Site Sidewalks

    Interior Features

    Stories 2 Story Total Baths Unit1 1

    Property Features

    Actual Cap Rate 4.1 Annual Expense Actual 35 Buildings 1 Gross Rent Multiplier Actual 15.5 Gross Scheduled Income Actual 139000 Tenant Pays Electricity Terms CashExchange Unit Number For Unit1 1 Unit1 Rent Actual 0.0 Zoning Assessor

    Listing provided courtesy of Coldwell Banker Coastal Alliance. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
    https://bt-photos.global.ssl.fastly.net/sandiego/orig_boomver_3_302526550-1.jpg https://bt-photos.global.ssl.fastly.net/sandiego/orig_boomver_3_302526550-1.jpg https://bt-photos.global.ssl.fastly.net/sandiego/orig_boomver_3_302526550-1.jpg
    Logo
    Keller Williams Realty La Jolla
    7817 Ivanhoe Ave.
    La Jolla CA, 92037