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220 E 57th Street
Long Beach, CA 90805
Residential Multi Family (Other)
0.15 Acres
4681 Sqft Living Area
10 Bedrooms
10 Bathrooms (10 Full, 0 Half)
Year Built: 1961
$1,999,888
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Property Description
New Price! Take advantage of this great opportunity on this 10-Unit apartment building just north of Bixby Knolls in North Long Beach. Brand-new dual pane vinyl windows just installed throughout, over $30k spent, entire exterior building just painted, over $10k spent. Eight (8) One bedroom/one-bathroom units and One (1) Two-bedroom/one-bathroom unit, and One (1) Studio; all separately metered for gas and electric. Some units have been updated as they have come available. Room to increase rents on several units! $174,418 GSI with rents, garages and laundry income. Private courtyard area with grass area, sprinklers and professionally landscaped. On-site laundry room as well as 7 garages which earn added income. (Garages are charged separately $75/garage.) Studio (10th unit) per tax records, is not permitted as a unit. If buyer desires to permit it after purchase, plans have already been submitted and approved by the city with an extension, to convert studio and 2 garage spaces, to a 516 sq/ft ADU. Also included are additional plans (not submitted to the city) to convert 4 additional garage spaces to 697 sq/ft ADU with the potential of making 57th Street a 11-unit building. ADU plans are available upon request. Please do not disturb the tenants.
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Contact Details
Name: Blair Newman
Email: blair@newmanteam.com
MLS Listing Id: PW23181804
Agent Phone: (562) 822-6532
List Agent License: 01459316
Office Name: Berkshire Hathaway HomeServices California Properties
Office Phone: (562) 809-1331
Office MLS Id: 0245
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.
