1117 E Carson Street, Long Beach, CA 90807

$2,500,000
List Price
$2,500,000
Status
PENDING
MLS#
OC22211290
Year Built
1948
Lot Size
9,147
Acres
0.21
Lot Location
Lawn
Days on Market
41
Property Type
Multifamily
Stories
Two Levels

Property Description

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.

Additional Information

Pool Description
None
Garage Spaces Total
5
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
8
Gross Scheduled Income
$147,600
Operating Expense
58597

Listing courtesy of Listing Agent: Tyler Leeson (tleeson@marcusmillichap.com) from Listing Office: Marcus & Millichap RE Invest.

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.