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1050 Orange Avenue
Long Beach, CA 90813
Residential Multi Family (Other)
0.18 Acres
4182 Sqft Living Area
15 Bedrooms
5 Bathrooms (5 Full, 0 Half)
Year Built: 1922
$1,998,000
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Property Description
Seller Financing Available!! 5 units situated on a nearly 8000 square foot lot. With upside potential, possible room for expansion, and 2 units being delivered vacant - this is an incredible investment opportunity. The units are a mix of 2 SFR's and an apartment building with 3 units. One of the houses and the biggest unit in the apartment will be delivered vacant. Pro forma potential of $129k/annually. Here are the details: 1050 Orange Ave: (FRONT HOUSE) A spacious 4-bedroom, 1-bath home boasting 1,300 sq ft. Features window air conditioners Parking: Comes with an open-air parking spot. Rent: Currently rented at $2,200/month (month-to-month) with potential for upside. 1052 Orange Ave: (ONE HALF OF THE BUILDING - DELIVERED VACANT) A 4-bedroom, 1-bath residence set across two levels, measuring approximately 1,300 sq ft. Equipped with 2 heat pumps for both AC and heating. Newer Appliances. Parking: Private space with potential for tandem parking for 2 cars. Delivered Vacant: Market rent $2,500. 1054 Orange Ave (SECOND FLOOR - OTHER HALF OF BUILDING) An efficiently designed 1-bedroom, 1-bath unit on the second floor covering 600 sq ft. Equipped with two wall-mounted AC units. Rent: Currently leased at $1,200/month. 1056 Orange Ave: (FIRST FLOOR - OTHER HALF OF BUILDING) 2-bedroom, 1-bath home stretching around 850 sq ft. Newly renovated kitchen and a completely redone master bedroom. Parking: Includes an open-air parking spot. Rent: Currently leased at $1,850/month with upside potential 1051 Norman Court: (BACK HOUSE - DELIVERED VACANT) A standalone 4-bedroom, 1-bath house with about 1,000 sq ft of living space. Comes with a separate entrance and private tandem parking for 2 cars. Delivered vacant, could fetch around $3,000 after move-out renovation. Notable Features & Upgrades: An efficient solar-powered electrical gate that works year round. Copper plumbing throughout most of units. Sewer line replaced 2010 This is a chance to invest in a property that offers both stable rent roll and potential for growth. Current tenants in place have long histories, signifying the desirability of this location. With two units available, this property provides flexibility for either owner occupancy or to lease at market rates. Come and see the potential for yourself!
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Contact Details
Name: Christian Perez
Email: christian.perez.realtor@gmail.com
MLS Listing Id: BB23176583
Agent Phone: (818) 237-0009
List Agent License: 01992184
Office Name: eXp Realty of Greater Los Angeles
Office Phone: (888) 652-1314
Office MLS Id: BH5345844
Listing Status: Active
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Copyright © 2024 OpenHous, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
