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    907 Grand Avenue

    Long Beach, CA 90804
    • $4,500,000
    • STATUS: Active
    • ON SITE: 39 days
    • ID#: PW21178294
    $4,500,000
    • 0
      BEDS
    • 0.28
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    907-927 Grand Avenue is a 13-unit investment asset located in the popular Eastside Long Beach rental market. Situated on two parcels, the property offers a favorable mix of seven 2BD / 1BA and six 1BD / 1BA units.Extensive renovations totaling over $340,000 feature: New vinyl plank flooring & custom bathroom tile Modern designer cabinets & countertops New appliances New energy-efficient LED lighting New upgraded electrial subpanels in-unitLocated in prime Eastside Long Beach, which has a Walk Score of 91, the property provides tenants with convenient, walkable access to all amenities for day-to-day living. The seller's renovations and managment provide a new buyer with a solid investment at 4.10% cap rate and 15.54 GRM on actuals with 14% rental upside potential.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T00:27:35.857. 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, South Bay. Licensed in the State of California, USA.
    www.sellinglasouthbay.com/homes/120429222
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    907 Grand Avenue Long Beach, CA 90804

    • Price: $4,500,000
    • Status: Active
    • ID#: PW21178294
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.28
    Acres
    1963
    Built
    Neighborhood:
    Eastside (Es)
    County:
    Los Angeles
    Area:
    3 - Eastside, Circle Area
    Property Description
    907-927 Grand Avenue is a 13-unit investment asset located in the popular Eastside Long Beach rental market. Situated on two parcels, the property offers a favorable mix of seven 2BD / 1BA and six 1BD / 1BA units.Extensive renovations totaling over $340,000 feature: New vinyl plank flooring & custom bathroom tile Modern designer cabinets & countertops New appliances New energy-efficient LED lighting New upgraded electrial subpanels in-unitLocated in prime Eastside Long Beach, which has a Walk Score of 91, the property provides tenants with convenient, walkable access to all amenities for day-to-day living. The seller's renovations and managment provide a new buyer with a solid investment at 4.10% cap rate and 15.54 GRM on actuals with 14% rental upside potential.
    Exterior Features

    Lot Features 11-15 Units/Acre Number Of Separate Electric Meters 13 Parking Features Garage Parking Total 8 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 2+ Common Walls

    Property Features

    Additional Parcels YN Yes Common Interest Community Apartment Community Features Urban Electric Expense 1325 Fuel Expense 1325 Garage YN Yes Gross Income 275025 Gross Scheduled Income 289500 Insurance Expense 5500 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Maintenance Expense 7500 Net Operating Income 184634 New Construction YN No New Taxes Expense 55350 Number Of Separate Gas Meters 13 Number Of Separate Water Meters 1 Operating Expense 90391 Other Expense 2300 Pest Control Expense 600 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 1325 Water Sewer Expense 1325 Water Source Public Zoning Lbr3s

    Listing provided courtesy of Robert Stepp of Keller Williams - Santa Monica


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-21T00:27:35.857. 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, South Bay. Licensed in the State of California, USA.
     
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    Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay
    23670 Hawthorne Blvd. #100
    Torrance CA, 90505