3315 E 2nd Street,  Long Beach CA, 90803 (Residential Income)

4,087 sqft
Status: Sold
MLS#: PW16707063
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Last Updated: 12/4/2016 1:53 AM
Description for 3315 E 2nd Street Long Beach, CA 90803
HIGHLY SOUGHT AFTER 4PLEX IN PRIME BELMONT HEIGHTS LOCATION WITH A COVETED 2ND STREET ADDRESS. All 4 units are large Sq. Ft. with open floor plans featuring walk-in closets and large bedrooms. Built in 1958, The property consists of 1- 1bed/1 bath rented for $1330 with a carport, 1- owners unit 2bed/2bath rented for $2150 with 1 garage, dining room, inside laundry room and 2nd living room. The other 2 units are both 2 bed/2bath that have been completely rehabbed with new bathrooms, new kitchen including granite counter tops! The property is in pristine condition with no deferred maintenance. Total of 3 garages and 1 carport. Onsite laundry room brings additional income. Owner pays water only. Tenants pay for all other utilities. Rents are extremely low with tons of room to raise up to market price. PRICED TO SELL BASED ON PRO-FORMA RENTS AT A 3.5CAP AND 18 X GROSS. Trophy properties like this one do not come on the market often, hurry this property will not last long!
Price
Sold Price:
$1,575,000
Sold Date:11/18/2016
Los Angeles
4,087 (approx)
PW16707063
Closed
Description
HIGHLY SOUGHT AFTER 4PLEX IN PRIME BELMONT HEIGHTS LOCATION WITH A COVETED 2ND STREET ADDRESS. All 4 units are large Sq. Ft. with open floor plans featuring walk-in closets and large bedrooms. Built in 1958, The property consists of 1- 1bed/1 bath rented for $1330 with a carport, 1- owners unit 2bed/2bath rented for $2150 with 1 garage, dining room, inside laundry room and 2nd living room. The other 2 units are both 2 bed/2bath that have been completely rehabbed with new bathrooms, new kitchen including granite counter tops! The property is in pristine condition with no deferred maintenance. Total of 3 garages and 1 carport. Onsite laundry room brings additional income. Owner pays water only. Tenants pay for all other utilities. Rents are extremely low with tons of room to raise up to market price. PRICED TO SELL BASED ON PRO-FORMA RENTS AT A 3.5CAP AND 18 X GROSS. Trophy properties like this one do not come on the market often, hurry this property will not last long!
Listing Information
Property Type: Cluster, Other
0.12 Acres 529,400 sq.ft. 4,087 (approx)
$385.37 1958
Yes- 3 spaces
4 Total
Neighborhood
Room Information
Exterior / Lot Features
3 Garage Spaces, 4 Parking Spaces, Assigned Parking Space
None
No Pool
LBR3S
Sidewalks, Street Lights
Driving Directions
REDONDO AND 2ND
Financial Considerations
7264003016
$41,760
Listing Price History

Long Beach Real Estate

Long Beach is located in California. Long Beach, California 90803 has a population of 463,589.

The median household income in Long Beach, California 90803 is $52,900. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Long Beach 90803 is 33.2 years.

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Courtesy: Main Street Realtors Kristina Moore
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