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Key Details
Sold Price $1,600,000
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Poly High (Ph)
MLS Listing ID PW25157783
Sold Date 12/03/25
HOA Y/N No
Year Built 1923
Property Sub-Type Apartment
Property Description
Now available in one of Long Beach's most affordable and high-demand rental neighborhoods, this charming 10-unit Spanish-style apartment building offers a rare blend of character and cash flow. The property features (9) studio units and (1) 1-bedroom/1-bath unit along with a convenient on-site laundry room. With a strong annual gross income of $187,260 and an attractive 6.2% cap rate, this asset presents an excellent opportunity for investors seeking stable returns in a supply-constrained rental market. 4 of the units currently pay RUBS which generates $490/mo. Don't miss this chance to own a classic, income-producing property in a thriving Long Beach location.
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR2N
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Common Area
Exterior
Parking Features None
Pool None
Community Features Curbs, Sidewalks
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7261015012
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Conventional
Special Listing Condition Standard
Lease Land No
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Bought with Austin Carr Realty One Group United
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