935 N Washington Place, Long Beach, CA 90813

$2,825,000

$2,895,000

2.4%

Est.Price: ?

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Est. payment -/mo

8 Beds

SOLD DATE : 06/27/2022

Key Details

Sold Price $2,825,000

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Sold

Purchase Type For Sale

Subdivision Poly High (Ph)

MLS Listing ID SB22082677

Sold Date 06/27/22

Bedrooms 8

Property Sub-Type Res Income 2-4 Units

Property Description

10 Units in two buildings in dense rental market just North of Downtown Long Beach. Recently renovated property including exterior refresh, landscaping, lighting, and windows. 8 out of 10 units have been upgraded with vinyl plank floors, new cabinets, quartz countertops, and new bathrooms. Well priced on actual income at 14.38X gross with a 9% upside to a market GRM of 13.22. Great unit mix of five 2 Bed/1 Bath units, three 1 Bed/1 Bath units, and two studios. Three garages in front of the building with the potential for an ADU conversion. Community laundry room for extra income. Leased solar system on back building for electrical savings. Perfect 1031 exchange upleg property!