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    4505 E 4th Street

    Long Beach, CA 90814
    • $1,499,000
    • STATUS: ACTIVE
    • ON SITE: 97 days
    • ID#: 302946869
    UPDATED: 88 min ago
    $1,499,000
    • 5
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1919
    County:

    School Ratings & Info

    Description

    The best price and Gross Rent Multiplier on the market in the area at 15.2 GRM. These brand new buildings require little to no repairs, as this is a rare owner-user or investment opportunity to own three separate homes on a lot in Belmont Heights. This like-new property is within walking distance to the Colorado Lagoon, Marina Vista Park, Recreation Golf Course, and all of the shops and eateries along 4th Street. While the original structure was built in 1919, the front house has been gorgeously renovated The best price and Gross Rent Multiplier on the market in the area at 15.2 GRM. These brand new buildings require little to no repairs, as this is a rare owner-user or investment opportunity to own three separate homes on a lot in Belmont Heights. This like-new property is within walking distance to the Colorado Lagoon, Marina Vista Park, Recreation Golf Course, and all of the shops and eateries along 4th Street. While the original structure was built in 1919, the front house has been gorgeously renovated, including new flooring, new paint, fully remodeled kitchen and bathrooms, tons of improvements to the major systems, and even a finished basement. The two homes in the rear are brand new construction that were just completed in September 2020, each being large 1 bed, 1 bath freestanding structures. Both of the rear homes include air-conditioning, washer and dryer, outdoor space, and garage parking. As an owner-user, the strong rents provide upside by lowering your monthly payments, while giving you the luxury of picking your neighbors. As an investor, the location, lifestyle, and income this property generates are hard to ignore. This investment is sure to appeal to a wide base of high-quality tenants that will pay strong rents to live in a brand new home in the highly-sought after Belmont Heights neighborhood.

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    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/111111954
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    4505 E 4th Street Long Beach, CA 90814

    • Price: $1,499,000
    • Status: ACTIVE
    • Updated: 88 min ago
    • ID#: 302946869
    5
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    1919
    Built
    Neighborhood:
    Long Beach (90814)
    County:
    Los Angeles
    Area:
    Long Beach (90814)
    Property Description
    The best price and Gross Rent Multiplier on the market in the area at 15.2 GRM. These brand new buildings require little to no repairs, as this is a rare owner-user or investment opportunity to own three separate homes on a lot in Belmont Heights. This like-new property is within walking distance to the Colorado Lagoon, Marina Vista Park, Recreation Golf Course, and all of the shops and eateries along 4th Street. While the original structure was built in 1919, the front house has been gorgeously renovated The best price and Gross Rent Multiplier on the market in the area at 15.2 GRM. These brand new buildings require little to no repairs, as this is a rare owner-user or investment opportunity to own three separate homes on a lot in Belmont Heights. This like-new property is within walking distance to the Colorado Lagoon, Marina Vista Park, Recreation Golf Course, and all of the shops and eateries along 4th Street. While the original structure was built in 1919, the front house has been gorgeously renovated, including new flooring, new paint, fully remodeled kitchen and bathrooms, tons of improvements to the major systems, and even a finished basement. The two homes in the rear are brand new construction that were just completed in September 2020, each being large 1 bed, 1 bath freestanding structures. Both of the rear homes include air-conditioning, washer and dryer, outdoor space, and garage parking. As an owner-user, the strong rents provide upside by lowering your monthly payments, while giving you the luxury of picking your neighbors. As an investor, the location, lifestyle, and income this property generates are hard to ignore. This investment is sure to appeal to a wide base of high-quality tenants that will pay strong rents to live in a brand new home in the highly-sought after Belmont Heights neighborhood.
    Exterior Features

    Pool N/K Site Sidewalks

    Interior Features

    Cooling Central Forced Air Stories 1 Story Total Baths Unit1 2 Total Baths Unit2 1 Total Baths Unit3 1 Units With Cooling 3 Units With Range Oven 3 Units With Refrigerators 3 Units With Washers 3 Water Heater Type Electric

    Property Features

    Actual Cap Rate 4.92 Annual Expense Actual 24600 Buildings 3 Gross Rent Multiplier Actual 15.23 Gross Scheduled Income Actual 98400 Tenant Pays TrashElectricityGas/Propane Terms CashConventional Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit1 Rent Actual 3950.0 Unit2 Rent Actual 2250.0 Unit3 Rent Actual 2000.0 Zoning Assessor

    Listing provided courtesy of Sage Real Estate. 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.
     
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