1055 Newport Avenue

    Long Beach, CA 90804
    • $4,425,000
    • STATUS: Active
    • ON SITE: 54 days
    • ID#: OC18123342
    $4,425,000
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,500
      SQFT
    • $466
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1985
    County:

    School Ratings & Info

    Description

    1055 Newport Avenue is a 13-unit multifamily investment property located in Long Beach, one of the premiere housing markets in Southern California. Situated on a 0.21-acre lot, the 9,500 square foot property consists of one- and two-bedroom floor plans averaging over 730 square feet. Built in 1985, the property offers amenities including gated pedestrian and vehicle access, gated covered parking, private patios, private balconies, and on-site laundry.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-18T00:29:25.94. 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.
    www.playavistaliving.com/homes/83929931

    1055 Newport Avenue Long Beach, CA 90804

    • Price: $4,425,000
    • Status: Active
    • ID#: OC18123342
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    9,500
    SQFT
    $466
    $/SQFT
    1985
    Built
    Neighborhood:
    Eastside (Es)
    County:
    Los Angeles
    Area:
    3 - Eastside, Circle Area
    Property Description
    1055 Newport Avenue is a 13-unit multifamily investment property located in Long Beach, one of the premiere housing markets in Southern California. Situated on a 0.21-acre lot, the 9,500 square foot property consists of one- and two-bedroom floor plans averaging over 730 square feet. Built in 1985, the property offers amenities including gated pedestrian and vehicle access, gated covered parking, private patios, private balconies, and on-site laundry.
    Exterior Features

    Carport Spaces 13.00 Garage Spaces 0.00 Lot Features Landscaped Lot Size Source Assessor Lot Size Units Acres Parking Total 13.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Heating Floor Furnace Heating YN Yes Laundry Features Community Levels Three Or More

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features Curbs Country Us Electric Expense 1517.50 Elevation Units Feet Fuel Expense 1517.50 Gross Income 249400.00 Gross Operating Income 242038.00 Gross Scheduled Income 249400.00 Insurance Expense 3000.00 Land Lease YN No Laundry YN Yes Maintenance Expense 7800.00 Net Operating Income 153918.00 New Taxes Expense 55950.00 Number Of Separate Electric Meters 13 Number Of Separate Gas Meters 13 Number Of Separate Water Meters 0 Number Of Units Leased 13 Operating Expense 88120.00 Other Expense 9300.00 Other Expense Description Other Professional Management Expense 6000.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Subdivision Name Other Eastside (Es) Total Actual Rent 20450.00 Total Expenses 88120.00 Trash Expense 1517.50 Vacancy Allowance Rate 3.00 Water Sewer Expense 1517.50 Water Source Public Year Built Source Assessor Zoning Lbr4r

    Listing provided courtesy of Tyler Leeson of Marcus & Millichap Re Invest.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-18T00:29:25.94. 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.
     
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