This Residential Income Property is Off-Market.

1450 Locust Ave
Long Beach, CA 90813 ·

750 SF · Residential Income For Sale



Residential Income Property For Sale

Price N/A Property Use Type Investment
Building Size 750 SF Commission Split 2.5%
Property Type Residential Income Cap Rate 10%
Property Sub-type Single-Unit (SFR/Condo) Year Built 1990
Listing ID: 16674313 Date Created: 05/05/2010 Last Updated: 12/07/2010


2 condo income units located on Locust Ave, Long Beach-the two units are LLC owned & the buyer has the opportunity to buy each unit with the LLC as well.
The two units are both rented with a 10-11% cash on cash return ,one unit is section 8 with monthly guaranteed rent of $1,095 & has new contract for next year ready, therefore the cash on cash return will go up to 13-14%.
Each unit is aprox 750 SQF very clean & inviting,the owner has invested over $15,000 in remodeling, all with tile flooring, new bathroom tiles, new water heater,Plumbing, AC &Heat ,Paint & more.
Unit #311,asking price: $ 104,999
Unit #426,asking price: $ 109,999

Great investment opportunity to own these 2 income units with the LLC,seller must liquidate other wise will not sell-wont last submit offers now!
for more info please contact Ron Ben

PCH & Magnolia


1450 Locust Ave, Long Beach, CA 90813 (Los Angeles County)

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