Long Beach, CA 90806 2165 Earl Avenue
$1,375,000
Presented By: KC James Dorame with Allure Capital Management Corp;
Home Details
Great investor opportunity to acquire a well maintained 4 unit building located in the high demand South Wrigley Sub-Market of Long Beach. The building is a cash machine, has a 6.9% in place cap rate, a 7.2%+ ProForma Cap Rate, and is 100% leased. It contains (3) spacious 2 Bedroom / 1 Bathroom Units, and (1) very spacious 3 Bedroom / 1 Bathroom Unit. The building also has a detached garage complex containing (3) one car garages that can be used as storage if needed and fit one vehicle parked behind. Three of the apartment have been remodeled within the last two years and the one remaining non-remodeled unit gives the new owner and opportunity to remodel, add value, and bring up to market rent. The property is located in close proximity to schools, banks, shopping centers, public transit, and easy freeway access. It is within walking distance of Long Beach Poly High, and only 2.1 miles from Downtown Long Beach. The area boats strong rental demand and all vacancies have been easily filled at market rent with multiple applicants coming forth.
Presented By: KC James Dorame with Allure Capital Management Corp;
Interior Features for 2165 Earl Avenue
Bedrooms
Total Bedrooms8
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths4
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea, LaundryRoom, Outside
Total Stories2
General for 2165 Earl Avenue
Additional Parcels Y/NNo
AppliancesDishwasher, Disposal, Microwave
Attached Garage No
Cap Rate6.9
Carport Y/NNo
CityLong Beach
CoolingElectric, WallWindowUnits
CountyLos Angeles
Days on Market55
DirectionsUse Google Maps
Full Baths
Garage Y/NYes
Gross Income118896.0
HeatingWallFurnace
Home Owner AssocNo
Home Warranty Y/NNo
Interior FeaturesCeilingFans
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet6274.0
Lot Size UnitsSquareFeet
MLS Area5 - Wrigley Area
MobileHomeRemainsYNNo
Net Operating Income95309.0
New ConstructionNo
NumberOfUnitsTotal4
Patio/Porch FeaturesNone
Pool FeaturesNone
PossessionCloseOfEscrow
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActiveUnderContract
StatusActiveUnderContract
View Y/NNo
Waterfront Y/NNo
Year Built1929
ZoningLBR2N
Exterior for 2165 Earl Avenue
Building Area Total3769.0
Crops Included Y/NNo
Foundation DetailsRaised
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.144
Lot Size Area6274.0
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesGarage, Private, Tandem
SpaNo
Total Parking8.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480