2366 Lime Avenue

    Long Beach, CA 90806
    • $2,145,000
    • STATUS: Active
    • ON SITE: 17 days
    • ID#: SB20060988
    UPDATED: 64 min ago
    $2,145,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,432
      SQFT
    • $395
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    Check out this aggressively priced cash cow with an actual 6% cap rate and 12.27 GRM on current rents! This two level 6-unit property is turn-key and fully stabilized with 4 three-bedroom, two-bathroom units, and 2 separate one bedroom, one-bathroom units. Each of the three-bedroom units are roomy and spacious with interior laundry and their own one car garage. There is a common area laundry room for the rear one-bedroom units. All of the tenants are Section 8 tenants, making this property recession and moratorium proof, since over 73% of the rent is paid directly by HUD. The price and terms for this building can+GGt be beat!

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-09T08:25:41.14. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

    www.sellinglasouthbay.com/homes/104385712

    2366 Lime Avenue Long Beach, CA 90806

    • Price: $2,145,000
    • Status: Active
    • Updated: 64 min ago
    • ID#: SB20060988
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    5,432
    SQFT
    $395
    $/SQFT
    1930
    Built
    Neighborhood:
    Poly High (Ph)
    County:
    Los Angeles
    Area:
    9 - Poly High
    Property Description
    Check out this aggressively priced cash cow with an actual 6% cap rate and 12.27 GRM on current rents! This two level 6-unit property is turn-key and fully stabilized with 4 three-bedroom, two-bathroom units, and 2 separate one bedroom, one-bathroom units. Each of the three-bedroom units are roomy and spacious with interior laundry and their own one car garage. There is a common area laundry room for the rear one-bedroom units. All of the tenants are Section 8 tenants, making this property recession and moratorium proof, since over 73% of the rent is paid directly by HUD. The price and terms for this building can+GGt be beat!
    Exterior Features

    Garage Spaces 4.00 Lot Features LandscapedLawnLevel With Street Lot Size Source Assessor Lot Size Units Square Feet Parking Total 4.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features InsideSee Remarks Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 6.00 Community Features SidewalksUrban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 600.00 Gross Income 174840.00 Gross Multiplier 12.27 Gross Operating Income 169595.00 Gross Scheduled Income 174840.00 Insurance Expense 2444.00 Land Lease YN No Laundry YN Yes Net Operating Income 128711.00 New Construction YN No New Taxes Expense 25740.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 40884.00 Other Expense 6900.00 Other Expense Description Utility Pest Control Expense 400.00 Professional Management Expense 4800.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Poly High (Ph) Total Actual Rent 174840.00 Total Expenses 40884.00 Trash Expense 0.00 Vacancy Allowance 5245 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lbr1n

    Listing provided courtesy of Danielle Whitney Moore of Keller Williams Realty and Lauren Guzman of Keller Williams Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-09T08:25:41.14. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

     
    Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor
    28901 S. Western Avenue #139
    Rancho Palos Verdes CA, 90731
    fbq('track', 'Search', { content_type: 'home_listing', // REQUIRED: DO NOT change this, must be set to 'home_listing' content_ids: ['1234', '2345', '3456', '4567'], // Top search results city: 'New York City', //Required for Search event region: 'New York', // region is the state for the US. Required for Search event country: 'US', //Required for Search event } );