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1244 E 4th Street

Long Beach, CA 90802
  • $3,495,000
  • STATUS: Active Under Contract
  • ON SITE: 204 Days
  • ID#: PW23183807
Under Contract
UPDATED: 86 min ago
$3,495,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Ratings & Info

Listing Agent(s): Robert Stepp of Keller Williams - Santa Monica (310-482-2200)


Description

1244 E. 4th Street is a 14-unit apartment asset in vibrant Retro Row neighborhood of Long Beach. The property is offered at 11.36 GRM and 5.78% Cap Rate on current rents. The property is comprised of (2) three- bedroom units; (3) two-bedroom units and (9) one-bedroom units. Thirteen of the 14 units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers. Double-paned windows are featured throughout the building, and (6) garages onsite provide the opportunity for garage income or the potential for additional rental income through conversion to ADUs.The property is located in prime Retro Row, walking distance from shopping, dining and nightlife amenities.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-24T19:38:30.2. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
www.homesinthehighdesert.com/homes/143998452
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1244 E 4th Street Long Beach, CA 90802

  • Price: $3,495,000
  • Status: Active Under Contract
  • On Site: 204 Days
  • Updated: 86 min ago
  • ID#: PW23183807
0
Beds
0
Baths
0
½ Baths
0.21
Acres
1962
Built
Neighborhood:
Alamitos Beach (Ab)
County:
Los Angeles
Area:
4 - Downtown Area, Alamitos Beach
Property Description
1244 E. 4th Street is a 14-unit apartment asset in vibrant Retro Row neighborhood of Long Beach. The property is offered at 11.36 GRM and 5.78% Cap Rate on current rents. The property is comprised of (2) three- bedroom units; (3) two-bedroom units and (9) one-bedroom units. Thirteen of the 14 units have been fully remodeled with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers. Double-paned windows are featured throughout the building, and (6) garages onsite provide the opportunity for garage income or the potential for additional rental income through conversion to ADUs.The property is located in prime Retro Row, walking distance from shopping, dining and nightlife amenities.
Exterior Features

Entry Level 1 Entry Location 1 Lot Features 11-15 Units/Acre Number Of Separate Electric Meters 14 Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 5.78 Common Interest Community Apartment Community Features Sidewalks Electric Expense 2456 Fuel Expense 0 Garage YN Yes Gross Income 298372 Gross Scheduled Income 307600 Insurance Expense 8000 Land Lease YN No Laundry Features Inside Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan1031 Exchange Maintenance Expense 9800 Net Operating Income 202134 New Construction YN No New Taxes Expense 43591 Number Of Separate Gas Meters 14 Number Of Separate Water Meters 1 Operating Expense 96238 Other Expense 4200 Pest Control Expense 1000 Property Sub Type Mixed Use Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 7116 Water Sewer Expense 3056 Water Source Public Zoning LBCNR



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-24T19:38:30.2. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
 
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RE/MAX Freedom
12180 Ridgecrest Rd. Building E Ste. 522
Victorville CA, 92395
Listing Agent(s): Robert Stepp of Keller Williams - Santa Monica (310-482-2200)