129 Roycroft Ave, Long Beach, CA 90803

$1,950,000
List Price
$1,950,000
Price Change
▼ $45,000 1667879645
Status
ACTIVE
MLS#
PW22209571
Year Built
1948
Lot Size
3,150
Acres
0.07
Lot Location
Front Yard, Lawn, SprinklersTimer, SprinklerSystem
Days on Market
64
Property Type
Multifamily
Style
MidCenturyModern
Property Sub Type
Quadruplex
Stories
Two Levels
Neighborhood
Belmont Shore (Bsd)

Property Description

AMAZING NEW PRICE WITH THE ADDED VALUE of a 4.6 CAP RATE & a 20 GRM in an A+ SEASIDE NEIGHBORHOOD. We are pleased to present a 4-unit multifamily property. Built in 1948, the subject property consists of 2,538 rentable square-feet situated on a 3,150 square-foot lot. The building consists of four 1-bedroom / 1-bathroom remodeled units. It offers a one car garage providing a shared coin operated laundry facility for all tenants and parking for one unit. Additional car parking is found in front of the garage with motorcycle/scooter parking being utilized on the side. Tenants enjoy living in the very walkable Belmont Shore neighborhood between 2nd street and the pacific ocean. Just a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This trophy property has been owned and lovingly maintained by the same family for 48 years. The exterior of the building was recently painted and new landscape installed. The quality of this investment will be of high value to an experienced investor. Please be sure to review all the media including the virtual tours and detailed floor plans for each unit.

Additional Information

Appliances
Dishwasher, Gas Range, Microwave
Pool Description
None
Heat
Wall Furnace
Cooling Description
None
Exterior Construction
Stucco
Garage Spaces Total
1
Sewer
Public Sewer
Water
Public
Interior Features
Ceiling Fan(s), Granite Counters
Attached Structure
Attached
Number Of Units Total
4
Gross Scheduled Income
$97,452
Operating Expense
14667

Listing courtesy of Listing Agent: Jack Tanner (SendThisToJack@Gmail.com) from Listing Office: Beach Cities Properties, Inc..

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.