$ 2,825,000
-
$2,825,000
Price -
1
Bed -
1
Bath -
9,964
SqFt
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About the Listing PB20845 - PWJORJAC,PWYOUNSHA
We are pleased to present 561 E. 64th Street, a 1960-construction 16 unit multifamily property located in North Long Beach to market. The property sits on a large 14,552 square foot lot and consists of 16 one bed/one bath units. Operating at a 6.18% cap rate and a 9.19 GRM, in place income is strong. The offering is priced at an attractive low basis of $176,563 per unit and $283 per square foot, positioning the asset below replacement cost and comparable sales in the market. Sixteen covered parking spaces are on site. Current rents remain approximately 18% below market, allowing further upside for a new buyer. The property has recently been extensively replumbed with new pex and copper throughout. Favorable market financing is available, requiring under a $1,000,000 down payment with the ability to achieve over a 7% cash-on-cash return utilizing interest-only financing (buyer to verify). The property is ideally situated directly across the street from Jordan High School, within a well-established residential corridor of North Long Beach.
Listing Highlights
Status
Active With Contingency
Days on Site
43
Property Type
Multi-Family
MLS ®
PW26036925
Year Built
1960
Total Square Footage
9,964
Lot/Acreage
0.33
Interior Details
- Bedrooms: 1
- Bathrooms: 1 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Cul-De-Sac,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7115028006
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
% Down Payment
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Questions About..
561 E 64th Long Beach, CA 90805
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