$ 1,595,000
-
$1,595,000
Price -
7
Bed -
4,840
SqFt -
0.17
Acre
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About the Listing SB1301700 - SBMUSSKRI,sbmahomat
This clean, well-maintained property presents a great opportunity for those looking to own a stable asset that is east to manage and operate. Located directly across from Drake Park in Long Beach's historic Drake Park/Wilmore City neighborhood, there are 6 large units within 2 structures on a 7,316sqft lot with 5 garages. Priced at a 10.99 GRM and 6.0% cap rate, the property offers immediate upside with 5 of 6 units eligible for rent increases, plus long-term value-add potential via 5 single-car garages that may allow for future ADU conversion. 5 of 6 units tastefully renovated in 2021 and recent capital improvements include new exterior stairs, new water heaters in 4 of 6 units, and upgraded breakers/subpanels. The lot features a charming central courtyard, and it's located across the street from the Historic Drake Park with proximity to over $8 billion in ongoing and planned development near Downtown Long Beach and the Waterfront. This is a great deal for all investors, especially those that need the end of the year tax shelter benefits and/or those currently in a 1031 exchange.
Listing Highlights for 920 N Park
Interior Details
- Bedrooms: 7
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 6-10 Units/Acre,Back Yard,No Land Lease
- Garage Capacity: 5 car
- Parking Spaces: 5
- Roof:
- Others: 2+ Total Units,Has ADU
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7271022018
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
920 N Park Long Beach, CA 90813
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