1413 Obispo Avenue, Long Beach, CA 90804

$1,475,000
5,056
SqFt
Sold Price
$1,475,000
List Price
$1,495,000
Closing Date
Oct 25, 2019
Status
CLOSED
MLS#
OC19111177
Year Built
1929
Living Sq. Ft
5,056
Lot Size
7,425
Acres
0.1705
Lot Location
Near Public Transit
Days on Market
84
Property Type
Multifamily

Property Description

The Obispo Avenue Apartments is a pride of ownership, six-unit, multi-family community in the City of Long Beach. Located at 1413 Obispo Avenue, this investment presents a stable, low expense, turn-key opportunity with a 5.43% CAP Rate and 8.62% Total Return on current income. The subject property has two buildings which sit over a 7,426 square foot lot. The front building is comprised of (4) two bedroom/ one bath units, and the rear building is comprised of (2) one bedroom/ one bath units above four garages. The building has recently gone through extensive renovations and upgrades of interiors and exterior. Some of the upgrades include but are not limited to: new cabinetry, new PEX plumbing, updated electrical, granite counter tops, new kitchens, new bathrooms, new windows, new appliances, and new flooring. Some tenant amenities include washer/dryer hookups, ample on-site parking, and enclosed garages.

Additional Information

Tract Number
7-183
Lot Description
Curbs, Sidewalks, Storm Drains, Street Lights
Pool Description
None
Garage Spaces Total
4
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Total Number of Units
6

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Greg Bassirpou from Marcus & Millichap RE Invest

Listing sold by Anthony Walker from Buckingham Investments, Inc