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751 Elm Ave

Long Beach CA 90813

0.08 ac.
Single-Family
Currently for sale - view listing

Overview

Don't miss the opportunity to purchase this extensively upgraded turnkey investment property in the up and coming neighborhood of downtown Long Beach. This beautiful 4 unit rental property is a classic early 20th century Craftsman. The property is already receiving strong rental income with all tenants paying market rents. All the hard work has been done for the new owners, offering the opportunity for the buyer to benefit from strong income on day one while removing the challenge of trying to get rents up to market while constrained by rent control limits. There are two 2 bed units and two 3 bed units. All units have their own laundry hookups. Act quick to lock in historically low interest rates. The area is very walkable for tenants and surrounded by current and future planned development. As a result, the area experiences very high rental demand. Price reduced by $150,000. Current pro forma cap rate of 3.43%.

Features

0.08 ac. lot size
Single-Family

Property history for 751 Elm Ave

2018
Sold
$906,000
09 Oct 2018 by Eileen Rivera

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Local market activity for single-family properties in Long Beach

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Sales:
(619) 566-0008
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