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1023 -1031 E 4th Street

Long Beach, CA 90802
  • $1,888,000
  • STATUS: Active
  • ON SITE: 37 Days
  • ID#: OC21222156
UPDATED: 72 min ago
$1,888,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1937
County:

School Ratings & Info

Listing provided courtesy of Ryan Sharpe of Kidder Mathews Of California, Inc

Description

The following mixed-use opportunity consists of two separate structures and approximately 5,750 square feet of gross leasable space. The front building is just under 5,000 square feet containing one 1 bedroom 1 bath unit and one 2 bedroom 1 bath unit above three retail/commercial units. The second freestanding structure is a +/- 800 square foot two bedroom house. All tenants are Month to Month (MTM) and are paying conservative or below market rents. The MTM tenancy gives an owner user or an investor the ability to either occupy or reposition the property at market rents. This is a rare opportunity to purchase a mixed-use asset on just over a 7,500 square foot lot just outside of the East Village Arts District in Long Beach, CA. HIGHLIGHTS: LONG TERM tenants, low rents. Near 100% collection since COVID. LOCATED and on one of the best retail corridors in the city of Long Beach. WALK SCORE Walker's Paradise (93). NEW general plan allows for redevlopment up to 7 stories in the future. LONG BEACH is the up and coming coastal city in Los Angeles county. Hundreds of millions of dollars are pouring into this city and tons of high density mixed use development in planning or developing stages. MIXED-USE allows to diversify risk with both retail and residential tenants

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T21:29:04.5. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/122740271
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1023 -1031 E 4th Street Long Beach, CA 90802

  • Price: $1,888,000
  • Status: Active
  • On Site: 37 Days
  • Updated: 72 min ago
  • ID#: OC21222156
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1937
Built
Neighborhood:
Alamitos Beach (Ab)
County:
Los Angeles
Area:
4 - Downtown Area, Alamitos Beach
Property Description
The following mixed-use opportunity consists of two separate structures and approximately 5,750 square feet of gross leasable space. The front building is just under 5,000 square feet containing one 1 bedroom 1 bath unit and one 2 bedroom 1 bath unit above three retail/commercial units. The second freestanding structure is a +/- 800 square foot two bedroom house. All tenants are Month to Month (MTM) and are paying conservative or below market rents. The MTM tenancy gives an owner user or an investor the ability to either occupy or reposition the property at market rents. This is a rare opportunity to purchase a mixed-use asset on just over a 7,500 square foot lot just outside of the East Village Arts District in Long Beach, CA. HIGHLIGHTS: LONG TERM tenants, low rents. Near 100% collection since COVID. LOCATED and on one of the best retail corridors in the city of Long Beach. WALK SCORE Walker's Paradise (93). NEW general plan allows for redevlopment up to 7 stories in the future. LONG BEACH is the up and coming coastal city in Los Angeles county. Hundreds of millions of dollars are pouring into this city and tons of high density mixed use development in planning or developing stages. MIXED-USE allows to diversify risk with both retail and residential tenants
Exterior Features

Lot Features Street Level Number Of Separate Electric Meters 6 Open Parking Spaces 6 Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 3.32 Common Interest Community Apartment Community Features Curbs Electric Expense 408 Fuel Expense 407 Garage YN No Gross Income 0 Gross Scheduled Income 99540 Insurance Expense 3035 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Maintenance Expense 2719 Net Operating Income 62664 New Construction YN No New Taxes Expense 21133 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 33890 Other Expense 197 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 407 Vacancy Allowance 2986 Water Sewer Expense 407 Water Source Public Zoning Lbco



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T21:29:04.5. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing provided courtesy of Ryan Sharpe of Kidder Mathews Of California, Inc