2165 Earl Avenue

Long Beach, CA 90806

$1,375,000

List Price

8

bed Beds

4

shower Baths

3,769 sqft

straighten / sqft

1929

calendar_month Built

Property Description

Great investor opportunity to acquire a well maintained 4 unit building located in the high demand South Wrigley Sub-Market of Long Beach. The building is a cash machine, has a 6.9% in place cap rate, a 7.2%+ ProForma Cap Rate, and is 100% leased. It contains (3) spacious 2 Bedroom / 1 Bathroom Units, and (1) very spacious 3 Bedroom / 1 Bathroom Unit. The building also has a detached garage complex containing (3) one car garages that can be used as storage if needed and fit one vehicle parked behind. Three of the apartment have been remodeled within the last two years and the one remaining non-remodeled unit gives the new owner and opportunity to remodel, add value, and bring up to market rent. The property is located in close proximity to schools, banks, shopping centers, public transit, and easy freeway access. It is within walking distance of Long Beach Poly High, and only 2.1 miles from Downtown Long Beach. The area boats strong rental demand and all vacancies have been easily filled at market rent with multiple applicants coming forth.

Listing Information

List Price $1,375,000
Status Active
MLS 24423989
Type Residential Income
Year Built 1929
Lot Size 6,274
Structure Size 3,769
DOM 26
Courtesy Of Allure Capital Management Corp
Listing Agent KC James Dorame DRE#02019663
Co-Listing Agent Joseph Daurio DRE#01992950

Interior Features

Laundry Information
Location(s) Common Area, Laundry Room, Outside
Total Bedroom
Bedrooms 8
Total Bathroom
Bathrooms 4
Additional Information
Additional Features Ceiling Fan(s)
Cooling Type
Cooling Type Electric, Wall/Window Unit(s)

Exterior Information

Other Structures
Features None

Maps

Listing information courtesy of: KC James Dorame, Joseph Daurio, Allure Capital Management Corp . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 29th, 2024 at 2:25 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.