8 bedroom house for sale

Overview

BACK ON THE MARKETWe are proud to present a good investment in a stong rental area of Long Beach. The mix is one larger 960 square foot two bedroom/one bath unit, over four garages with alley access. There are six one bedroom/one bath units, with the same 531 square foot floor plan contained in one easy to maintain garden style building. With the same continuous ownership for the last 36 years you know it is worth being the next in line to benifit from this property in your portfolio. The real value here is in the upside of the rents on an undervalued building of this size. At the proforma market rents, it will be a profitable 11.22 GRM. and 6.7 CAP. Please drive by to see the quality of the neighboring properties and single family residence. This apartment complex should prove to very inviting to educated investors. The most recently leased unit #1145 proves the $1, 495 proforma rents. Current rents are based on increases due to go in effect on March 1st. If any tenants choose to move, then the $1, 495 (1/1) or $1, 795 (2/1) market values, makes the numbers even better on the value added.