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    1075 Obispo Avenue

    Long Beach, CA 90804
    • $2,895,000
    • STATUS: Active
    • ON SITE: 56 days
    • ID#: SB20178059
    UPDATED: 13 min ago
    $2,895,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,632
      SQFT
    • $379
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    Totally remodeled, fully occupied turnkey 9-unit apartment building. $200K spent on building improvements, exterior refreshed with new paint, new security screen doors, new lighting, landscaping, and fence. 100% of unit interiors upgraded including quartz counters, waterproof vinyl plank floors, stainless appliances, new cabinets, new bathrooms, and new lighting. Has a perfect unit mix of nine 2 bed/1 bath apartments that come with 4 garages and 4 off-street parking spaces.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-24T07:28:02.617. 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 | Compass. Licensed in the State of California, USA.

    www.themarellygroup.com/homes/109494268
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    1075 Obispo Avenue Long Beach, CA 90804

    • Price: $2,895,000
    • Status: Active
    • Updated: 13 min ago
    • ID#: SB20178059
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    7,632
    SQFT
    $379
    $/SQFT
    1963
    Built
    Neighborhood:
    Eastside (Es)
    County:
    Los Angeles
    Area:
    3 - Eastside, Circle Area
    Property Description
    Totally remodeled, fully occupied turnkey 9-unit apartment building. $200K spent on building improvements, exterior refreshed with new paint, new security screen doors, new lighting, landscaping, and fence. 100% of unit interiors upgraded including quartz counters, waterproof vinyl plank floors, stainless appliances, new cabinets, new bathrooms, and new lighting. Has a perfect unit mix of nine 2 bed/1 bath apartments that come with 4 garages and 4 off-street parking spaces.
    Exterior Features

    Garage Spaces 4.00 Lot Features 6-10 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 8.00 Pool Features None Pool Private YN No Property Attached YN No Uncovered Spaces 4.00

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.50 Community Features Urban Country Us Electric Expense 1082.00 Elevation Units Feet Fuel Expense 1082.00 Garage Income 400.00 Garage Rental Rate 100.00 Gross Income 430.00 Gross Multiplier 14.33 Gross Operating Income 192120.00 Gross Scheduled Income 202060.00 Insurance Expense 4619.00 Land Lease YN No Laundry Income 30.00 Laundry YN Yes Maintenance Expense 6195.00 Net Operating Income 128996.00 New Construction YN No New Taxes Expense 36188.00 Number Of Separate Electric Meters 10 Number Of Separate Gas Meters 10 Number Of Separate Water Meters 1 Operating Expense 63125.00 Professional Management Expense 9606.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Eastside (Es) Total Expenses 63125.00 Trash Expense 1082.00 Vacancy Allowance Rate 5.00 Water Sewer Expense 1085.00 Water Source Public Year Built Source Assessor Zoning Lbr2n

    Listing provided courtesy of Anthony Walker of Buckingham Investments, Inc and Travis Lebouf of Re/Max Platinum Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-24T07:28:02.617. 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 | Compass. Licensed in the State of California, USA.

     
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    The Marelly Group | Compass
    5256 South Mission Rd, Suite 1006
    Bonsall CA, 92003