Take advantage of this great opportunity on this 9-Unit apartment building on the border of Bixby Knolls in North Long Beach. The 9-Units are currently ALL rented, paying rent and professionally managed. Amazing 12.3 GRM based on current rents and garage/parking/laundry income. Seven(7) two-bedroom/one-bathroom units and Two(2) one-bedroom/one-bathroom units; all separately metered for gas and electric. Some units have been updated as they have come available. Currently about 6 units below market rent. Room to increase! Current rents, parking and laundry income is producing $146,394 GSI. Five major upgrades over the past 18 months including: New roof; New exterior paint; New dual-pane vinyl windows; New water heater and New landscaping with automatic sprinklers. Private courtyard area with grass and picnic table area. On-site laundry room as well as 4 garages and 2 carport parking spaces which also earn added income. The perfect value for taking advantage of today's record low interest rates while they last. Please do not disturb tenants.
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|12/1/2020 12:00:00 AM||New Value: $1,804,888|