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$ 1,850,000
Est. payment /mo
Active
826 Rose AVE Long Beach, CA 90813
5,905 Sqft Lot
UPDATED:
11/02/2024 12:39 AM
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC24224912
Style Spanish
Originating Board California Regional MLS
Year Built 1923
Lot Size 5,905 Sqft
Property Description
Prime 5-Unit Multifamily Investment Opportunity in Long Beach Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU. FOR SALE: $1,850,000 - Owner's Loss, Investor's Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors. Additional Expansion Opportunity with 2 Fully Permitted ADU Plans: The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%. Property Highlights: . Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually). . Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space. . Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit ba
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Laundry Washer, Stacked Only, Dryer
Exterior
Parking Features Assigned Spaces
Garage Spaces 3.0
Pool 31, None
View None
Roof Type Tile
Building
Water District - Public
Architectural Style Spanish
Others
Tax ID 7267016017
Special Listing Condition Not Applicable
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Listed by Nicholas Gallyon • Coldwell Banker Platinum Prop