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$1,775,000
Est. payment /mo
16 Beds
8 Baths
5,254 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,254 sqft
Price per Sqft $337
MLS Listing ID 26104748
Bedrooms 16
HOA Y/N No
Year Built 1960
Lot Size 6,516 Sqft
Property Description
2212 E 15th St | 8-Unit Multifamily Investment, Long Beach. This 1960-built asset totals 5,256 SF on an 8,409 SF lot in Eastside Long Beach, between the Cherry Avenue corridor and Zaferia. It sits a few blocks north of Anaheim Street's restaurants and coffee shops and just south of Pacific Coast Highway retail and bus lines. The property features (8) 2BR/1BA units averaging 657 SF across a front and back building, with eight on-site parking spaces at a 1:1 ratio. Six of eight units are occupied at an average rent of $1,962, four of them already at the $1,995 market rent, and Units 1 and 2 are delivered vacant. Offered at $1,775,000 ($221,875/unit | $337.71/SF) with a 7.13% cap rate on scheduled rents and a 9.39 GRM, the real story is yield a 7%+ cap at a sub-$225K basis, with two units the buyer can lease or renovate on their own terms from close.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBR2N
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Driveway Down Slope From Street
Total Parking Spaces 8
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 7260015003
Special Listing Condition Standard
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Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040
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