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Listed by Perry Karn • Southland Property Group
$ 1,169,000
Est. payment /mo
Price Dropped by $6K
1921 E Washington ST Long Beach, CA 90805
5,600 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25003991
Year Built 1949
Lot Size 5,600 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
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 $1,169,000 Price/Unit $292,250 Price/sqft $367 Current Cap Rate 6.56% Market Cap Rate 8.33% Current GRM 13.71 Market GRM 11.04
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Interior
Laundry Community Facility
Exterior
Garage Spaces 3.0
Pool None
Building
Water District - Public
Others
Tax ID 7128032018
Special Listing Condition Not Applicable
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