Residential Income for sale in Long Beach, California, OC22211290

1117 East Carson Street is an 8-unit multifamily investment property located in Long Beach, California. 1117 East Carson Street offers an attractive mix of one and two-bedroom floor plans with amenities including a private lounge area for tenants, a quite central courtyard, on-site laundry, screen doors, dual-pane windows, and garage parking. This extremely well-maintained opportunity has recently underwent substantial renovations to its major systems that include a newer roof (2019), newer windows, electrical meters, gas meters, and in-unit plumbing (as needed). Majority of the units have been upgraded over the years and feature remodeled kitchens and bathrooms. Select units have newer wood flooring. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, 1117 East Carson Street represents an attractive value-add opportunity for a new owner. 1117 East Carson Street is situated in the desirable Bixby Knolls neighborhood of Long Beach, which primarily features single-family homes. Residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the recently constructed Long Beach Exchange just 1.85 miles away. Additionally, the property benefits from its location just over 1.25 miles north of Interstate 405, connecting residents to employment hubs throughout Los Angeles and Orange Counties.

Primary Features

County: Los Angeles

Price/SqFt: 345.97

Property Type: Residential Income

Year Built: 1948

Zoning: LBR3S

Interior

Average 1 Bed Area Units: Square Feet

Average 2 Bed Area Units: Square Feet

Average 3 Bed Area Units: Square Feet

Average Studio Area Units: Square Feet

Building Area Units: Square Feet

Common Walls: No Common Walls

Garage Spaces: 5

Laundry: yes

Laundry Features: Community

Levels: Two

Stories Total: 2

External

Lot Features: Lawn

Lot Size Area: 0.21

Lot Size Source: Assessor

Lot Size Square Feet: 9147.6

Number Of Buildings: 1

Parking Total: 5

Pool Features: None

Private Pool: no

Property Attached: no

Sewer: Public Sewer

Water Source: Public

Location

Country: US

Elevation Units: Feet

MLS Area Major: 699 - Not Defined

Additional

Additional Parcels: no

Assessments: Special Assessments

Community Features: Curbs, Sidewalks

Days On Market: 44

List Agent State License: 01451551

List Office State License: 00530854

Lot Size Units: Acres

New Construction: no

Number Of Separate Electric Meters: 8

Number Of Separate Gas Meters: 8

Number Of Separate Water Meters: 1

Number Of Units Leased: 8

Number Of Units Total: 8

Parcel Number: 7138012028

Senior Community: no

Year Built Source: Assessor

Financial

Electric Expense: 1100

Fuel Expense: 1100

Gross Operating Income: 144662

Gross Scheduled Income: 147600

Insurance Expense: 2671

Land Lease: no

Maintenance Expense: 6000

Net Operating Income: 86065

New Taxes Expense: 29777

Operating Expense: 58597

Other Expense: 8516

Other Expense Description: Misc

Other Income 1: 1490

Other Income Description: Miscellaneous

Price Per Unit: 312500

Professional Management Expense: 7233

Rent Control: yes

Special Listing Conditions: Standard

Tax Census Tract: 5719.00

Tax Lot: 91

Tax Tract Number: 13289

Total Actual Rent: 12300

Total Expenses: 58597

Trash Expense: 1100

Vacancy Allowance: 4428

Water Sewer Expense: 1100

Zoning Info

© 2024. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Any correspondence from IDX pages are routed to Realty Masters and Associates or one of their associates. Last updated Tuesday, April 16th, 2024.

Based on information from CARETS as of Tuesday, April 16th, 2024 08:01:39 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Long Beach CA home offered at $2,500,000