Long Beach, CA 90813 1135 Linden Avenue
$1,450,000
12 more
Presented By: Jack Tanner with Beach Cities Properties, Inc.; 7142095225
Beds • 8
Baths • 7
SQFT • 4,146
Garage • 4
Home Details
BACK ON THE MARKET >>>>> We are proud to present a good investment in a stong rental area of Long Beach. The mix is one larger 960 square foot two bedroom/one bath unit, over four garages with alley access. There are six one bedroom/one bath units, with the same 531 square foot floor plan contained in one easy to maintain garden style building. With the same continuous ownership for the last 36 years you know it is worth being the next in line to benifit from this property in your portfolio. The real value here is in the upside of the rents on an undervalued building of this size. At the proforma market rents, it will be a profitable 11.22 GRM. and 6.7 CAP. Please drive by to see the quality of the neighboring properties and single family residence. This apartment complex should prove to very inviting to educated investors. The most recently leased unit #1145 proves the $1,495 proforma rents. Current rents are based on increases due to go in effect on March 1st. If any tenants choose to move, then the $1,495 (1/1) or $1,795 (2/1) market values, makes the numbers even better on the value added.
Presented By: Jack Tanner with Beach Cities Properties, Inc.; 7142095225
Interior Features for 1135 Linden Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1135 Linden Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.6
Carport Y/NNo
CityLong Beach
Community FeaturesStreetLights, Urban
CoolingNone
CountyLos Angeles
Days on Market121
DirectionsBetween Anaheim and St. Mary's Hospital
Entry LocationGround
Garage Spaces4.0
Garage Y/NYes
Gross Income98601.6
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense2139.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, Conventional, Item1031Exchange, FHA, Submit
Lot Size Square Feet7519.0
MLS Area4 - Downtown Area, Alamitos Beach
MobileHomeRemainsYNNo
Net Operating Income66751.6
New ConstructionNo
Number of Units Leased7
Operating Expense31850.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameLinden Avenue
Subdivision NameAlamitos Beach (AB)
Tax Lot18
Tenant PaysElectricity, Gas
Total Actual Rent6130.0
Total Units7
Trash Expense600.0
View Y/NNo
Water Sewer Expense1000.0
Waterfront Y/NNo
Year Built1922
Year Built SourceAssessor
Exterior for 1135 Linden Avenue
Building Area Total4146.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesStreetLevel
Lot Size Acres0.1726
Lot Size Area7519.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters7
Number of Separate Gas Meters7
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking4.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480