6
See all 6 photos
$950,000
Est. payment /mo
1 Bed
1 Bath
2,505 Sqft Lot
New
101 W 9th Street Long Beach, CA 90813
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26239242
Bedrooms 1
Lot Size 2,505 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Four-unit multifamily investment opportunity located near Downtown Long Beach. Built in 1918, this fourplex offers approximately 3,192 square feet of living space on a 2,505-square-foot lot. The property consists of four units originally configured as 1-bedroom, 1-bathroom residences, with two units featuring an additional bedroom each. The permit status of the additional bedrooms has not been verified. Three units are currently tenant-occupied, generating a combined monthly rental income of $5,800. The fourth unit is vacant, offering an opportunity for additional rental income. Estimated rental income for the vacant unit ranges from $1,800 to $2,000 per month, potentially bringing total gross monthly rental income to approximately $7,600$7,800. Based on estimated annual operating expenses, including property taxes, insurance, utilities, and maintenance, the property currently generates an estimated Net Operating Income (NOI) of $41,374 annually, representing a 4.36% cap rate at the $950,000 asking price. This reflects the current rental income from three occupied units. If the vacant unit is leased at a projected $2,000 per month, the property could generate approximately $64,174 in annual pro forma NOI, representing a 6.76% pro forma cap rate, based on adjusted maintenance expenses. These estimates exclude vacancy allowances, property management, capital expenditures, and financing costs. Actual results may vary. Conveniently located near Downtown Long Beach, shopping, dining, and public transportation. Property is being sold strictly AS-IS, in its present condition. Sell
Location
State CA
County Los Angeles
Zoning Assessor
Direction Exit the 710 free way, south on Shoreline Dr, East on 7th st. North on Pine Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7273014017
Acceptable Financing Cash, Conventional, FHA, VA
Listing Terms Cash, Conventional, FHA, VA
Listed by Monica Calzada, DRE#01468733 Del Rey Realty
NEARBY SCHOOL & BUSINESS
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