2503 Santa Fe Avenue, Long Beach, CA 90810

$1,899,000
List Price
$1,899,000
Status
ACTIVE
MLS#
PW24077954
Year Built
1961
Lot Size
8,485
Acres
0.19
Lot Location
Corner Lot, Near Public Transit
Days on Market
30
Property Type
Commercial
Property Sub Type
Mixed Use

Property Description

A Rare find for investor. High generating income property at approx $150,000 yearly. Property is offer at 6.24% cap rate. Property consist of (1) commercial building and (5) one bedroom and one bath unit apartments. Tenants are long term and a few have lived on the premise for over 20yrs. The commercial Tailgate Bar has been in business for a very long time and is a local spot for the locals. Commercial Tenant is responsible for all utilities, repair and maintenance pertaining to interior and exterior of the building. Low management. Business is also for sale: Per tenant, gross over $500,000 yearly and sale price is $500K. The residential units have all been renovated with vinyl and tile flooring, all except one have new kitchen cabinets and quartz countertop and brand new vinyl, retrofit, dual glazed, low E windows. Building has also been freshly painted exterior. All great tenants and great relationship with Landlord. Landlord only pays water and landscaping. Low expenses. Residential address is 1709 W 25th Street, Long Beach, CA 90810. This property is self managed by owners with ease for over 10years with almost no vacancy in the last 10years. No shortage of renters for the area. Maybe eligible for SBA 7a Loan or SBA 504 loan with 10% down.

Additional Information

Taxes
$7,187
Heat
Wall Furnace
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Water
Public
Attached Structure
Detached
Number Of Units Total
6
Gross Scheduled Income
$149,316
Operating Expense
30795

Listing courtesy of Listing Agent: Jocelyn Thav (JocelynT@coastalpacificproperty.com) from Listing Office: Jocelyn Thav, Broker.

Mortgage Calculator

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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.