$700,000 - 515 W 8th Street, Long Beach

  • 0Beds
  • Baths
  • 1,844SQ. Feet
  • 0.04Acres

Turnkey opportunity! This clean and well-maintained triplex is currently performing at 13.2 GRM, with a 5.4% Cap Rate - cash flowing and outperforming the local market! The property consists of three large 1bed/1bath units, one 1car garage, and a community laundry room. Each unit is in great condition, offers a functional layout, and is separately metered for gas and electricity. The first floor unit has a larger bonus room, which adds value for the tenants and increases rent. The building is in great condition with recent improvements made, adding plenty of value for the new owner. Long Beach's first designated historic district, Willmore City / Drake Park Historic District, is a community rich in history, character, and charm. This dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Downtown Long Beach provides maximum accessibility, with plenty of public transportation, freeway access, and a high walk score. The beach, parks, and other community amenities/ attractions like the Queen Marry and Aquarium are just minutes away! Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community. This easy to own asset is a great addition to any portfolio!

Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:SB19202951
  • Price:$700,000
  • Bathrooms:0.00
  • Square Footage:1,844
  • Acres:0.04
  • Year Built:1922
  • Type:Residential Income
  • Status:Active Under Contract

Community Information

  • Address:515 W 8th Street
  • Area:Downtown Area, Alamitos Beach (4)
  • Subdivision:Willmore District (WM)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90813

Amenities

  • Parking Spaces:1
  • # of Garages:1

Interior

  • Heating:Wall Heater
  • Cooling:None
  • # of Stories:2
  • Stories:Two

Exterior

  • Lot Description:Near Public Transit, Park Nearby

Additional Information

  • Date Listed:August 24th, 2019
  • Days on Market:27
  • Zoning:LBPD10

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Similar Neighborhoods to "Willmore District (WM)" in Long Beach, California

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Willmore District (wm)

  • City:
    Long Beach
  • Price Range:
    $639,000 - $6,500,000
  • Current Listings:
    7
  • HOA Dues:
    $
  • Average Price per Square Foot:
    $384

Downtown (dt)

  • City:
    Long Beach
  • Price Range:
    $569,000 - $3,395,000
  • Current Listings:
    8
  • HOA Dues:
    $
  • Average Price per Square Foot:
    $445
  • Link:
    Downtown (DT) Homes For Sale

Alamitos Beach (ab)

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Provided By: Matthew Mahowald(02001732), Buckingham Investments, Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of September 21st, 2019 at 10:36am CDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.