$1,825,000
$1,850,000
1.4%For more information regarding the value of a property, please contact us for a free consultation.
405 E Esther ST Long Beach, CA 90813
6,969 Sqft Lot
Key Details
Sold Price $1,825,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Poly High (Ph)
MLS Listing ID SB20183356
Sold Date 02/05/21
HOA Y/N No
Year Built 1923
Lot Size 6,969 Sqft
Property Description
High yield 7-unit apartment building half a block to a blue line station and steps to numerous new developments. Great unit mix of one 6 Bed/2 Bath unit, three 3 Bed/1 Bath units, one 2 Bed/1 Bath units, one 1 Bed/1 Bath, and one studio. Exterior refresh just completed and 5 out of 7 units remodeled. Super strong income at 12.59X gross on actuals with a 6% upside to market GRM of 11.81X and a 5.5% market cap rate. Qualifies for 75% LTV financing at historically low interest rates. Off-street parking for 4-5 cars. Just North of Downtown Long Beach. Blue lines serves both Downtown Los Angeles and Long Beach. Blocks away from elementary, middle, and high schools.
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBPD29
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Urban
Total Parking Spaces 4
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7269020023
Energy Description 546.0
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Cash to New Loan
Special Listing Condition Standard
Lease Land No
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Bought with John Alden • Alden Pacific Investments, Inc.