CA > Long Beach
Long Beach, CA 90805,1921 E Washington Street
Long Beach, CA 90805,1921 E Washington Street
Long Beach, CA 90805,1921 E Washington Street
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$1,175,000
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7 Beds
6 Baths
5,600 Sqft Lot
Price Dropped by $25K

1921 E Washington Street Long Beach, CA 90805

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Richard Combs

Richard Combs

+1(619) 838-9307

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25003991

Bedrooms 7

HOA Y/N No

Lot Size 5,600 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

**PRICE REDUCTION** Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants. The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2 miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out. Price $1,250,000 Price/Unit $312,500 Price/sqft $408 Current Cap Rate 5.35% Market Cap Rate 6.26% Current GRM 16.62 Market GRM 14.43
**PRICE REDUCTION** Located on a quiet side street off one of the major thoroughfares in North Long Beach providing a great location and ease of commute for tenants. The property is close to local bus stops, multiple parks, and shopping centers, as well as The Michelle Obama Library. The property sits within 2 miles of both the 91 and 710 freeways. The property is also only a short drive to both downtown Long Beach and the Beach. This fourplex consists of a front building made up of three 1 Bed 1 Bath units each with a garage, and a rear building which is a detached 4 Bed 2 Bath house The rear house sits at ~1728 sqft. While the front building units average ~485 sqft. The tenants pay their own utilities, keeping the utilities low. This building is currently fully occupied and has had less than 3% vacancy over the last 3 years. Two of the units have been partially renovated during the most recent tenant transitions. This property also has storage and laundry room opportunities for potential sellers to build out. Price $1,250,000 Price/Unit $312,500 Price/sqft $408 Current Cap Rate 5.35% Market Cap Rate 6.26% Current GRM 16.62 Market GRM 14.43

Location

State CA

County Los Angeles

Area Long Beach (90805)

Zoning Public Rec

Building

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Monthly Total Fees $71

Acceptable Financing Cash, Conventional

Space Rent $1,400

Listing Terms Cash, Conventional

San Diego Regional MLS (SDMLS)
Listed by Perry Karn • Southland Property Group

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agent

Richard Combs

Broker | License ID: 01526804

+1(619) 838-9307

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1921 E Washington Street

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