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1135 Linden Avenue
Long Beach, CA 90813
Residential Multi Family (Other)
0.17 Acres
4146 Sqft Living Area
8 Bedrooms
7 Bathrooms (7 Full, 0 Half)
Year Built: 1922
$1,450,000
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Property Description
Jack Tanner 714-209-5225 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.
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Contact Details
Name: Jack Tanner
Email: SendThisToJack@Gmail.com
MLS Listing Id: PW23209583
Agent Phone: (714) 209-5225
List Agent License: 01383525
Office Name: Beach Cities Properties, Inc.
Office Phone: (562) 938-7653
Office MLS Id: PB16882
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.
