1075 E South, Long Beach, CA 90805
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1075 E South, Long Beach, CA 90805
1075 E South, Long Beach, CA 90805
1075 E South, Long Beach, CA 90805
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Bryan Garrity

Bryan Garrity

+1(858) 525-3202
$ 4,500,000
Est. payment /mo
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Active Under Contract

1075 E South Long Beach, CA 90805

0.29 Acres Lot

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID PW26036911

HOA Y/N No

Year Built 1987

Annual Tax Amount $42,391

Lot Size 0.288 Acres

Property Sub-Type Apartment

Property Description

We are pleased to present 1075 E. South Street, a 1987 constructed 18 unit building to market in the city of Long Beach. The property features an all two bedroom unit mix with units averaging approximately 868 square feet each with balconies in select units. Current operations deliver a strong 6.37% cap rate and a 10.01 GRM based on existing rents, while still offering approximately 20% upside in gross rental income to market. The property has fully gated and secured parking for 25 spaces in addition to three secure storage spaces in the garage area. Attractive market financing options exist that could potentially boost a cash on cash return of 7% with a 30% down payment (buyer to verify). Situated on a quiet residential street in a solid North Long Beach location, the property combines stable current income, future rent growth potential, and a desirable neighborhood setting.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 25.0

Garage Description 25.0

Pool None

Community Features Urban

Total Parking Spaces 25

Private Pool No

Building

Lot Description Landscaped

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7124027028

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Jackson Jorgensen Younglewin Advisors, Inc. jack@younglewin.com, DRE #02022727

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Bryan Garrity

Bryan Garrity

Advisor | License ID: 01501862

+1(858) 525-3202

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1075 E South