Long Beach, CA 90804 1108 Termino Avenue
$4,650,000
31 more
Presented By: Lily Nguyen with Berkshire Hathaway HomeService; [email protected]
Home Details
GREAT INVESTMENT PROPERTY!!! Discover a gem in the Eastside submarket of Long Beach with this exceptional 1980s building. This property boasts 10
LARGE UNITS two-bedroom, condo-style apartments, each offering spacious and luminous interiors. Highlights include vaulted ceilings in upper units and expansive balconies in all apartments, enhancing the appeal and comfort for residents.
Security is prioritized with locked entrances and security cameras throughout the property. Additionally, the building features a gated garage with 15 parking spaces, presenting an opportunity to generate additional income by renting out surplus spaces.
It features a newer roof with a lifetime guarantee and includes seller-owned laundry machines. The financial burden of utilities is eased as tenants are responsible for their own gas and electric costs, keeping operating expenses low.
This investment asset is a standout in a desirable, low-vacancy area of Long Beach, offering more than 18% rental upside potential. Recent upgrades include remodeled units in 2021 and a piloties 15 parking lot enhancement. Conveniently located near freeways and public transportation, this property represents a rare chance to acquire a well-maintained, income-generating building with significant growth potential. Act now to capitalize on this excellent investment opportunity in a thriving residential neighborhood.
Presented By: Lily Nguyen with Berkshire Hathaway HomeService; [email protected]
Interior Features for 1108 Termino Avenue
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsNoCommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Street SuffixAvenue
Total Stories3
Other Rooms
Entry Level1
General for 1108 Termino Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.1
Carport Y/NNo
CityLong Beach
Community FeaturesSidewalks
ContingencyBroker/Agent does not quarantee the accuracy of square footage, lot size, zoning, rent control, permits, use code, schools, and/or other information concerning the conditions or features of the property pro
CoolingCentralAir
CountyLos Angeles
Days on Market5
DirectionsTermino Ave & E 11th St
Electric Expense1200.0
Entry LocationFront
Expected Active Date 2024-05-04
Fuel Expense0.0
Garage Spaces15.0
Garage Y/NYes
Gross Income290088.0
HOA0.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense5522.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsThreeOrMore
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet8561.0
MLS Area3 - Eastside, Circle Area
MobileHomeRemainsYNNo
Net Operating Income250963.0
New ConstructionNo
Operating Expense39125.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameTermino
Tax Lot80
Tenant PaysAllUtilities, Electricity, Gas
Total Units10
Trash Expense1800.0
View Y/NNo
Virtual TourClick here
Virtual TourClick here
Water Sewer Expense1140.0
Waterfront Y/NNo
Year Built1986
Year Built SourceAssessor
ZoningLBR2N
Exterior for 1108 Termino Avenue
Building Area Total10158.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem610UnitsAcre
Lot Size Acres0.1965
Lot Size Area8561.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters1
Number of Separate Gas Meters1
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking15.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480