1119 Dawson Avenue , #9

    Long Beach, CA 90804
    • $2,200,000
    • STATUS: Active Under Contract
    • ON SITE: 130 days
    • ID#: PW18080933
    Under Contract
    UPDATED: 61 min ago
    $2,200,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,790
      SQFT
    • $282
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1987
    County:

    School Ratings & Info

    Description

    An investment in 1119 Dawson Ave., Long Beach represents an opportunity to acquire 9 apartment units in a solid rental area of central Long Beach. Built in 1987, the property consists of (8) 2 bed + 2 bath units and (1) 1 bed + 1 bath units. Units average 865 square feet. The property features all copper plumbing, which substantially reduces plumbing repair expense and pitched roofs, which also have the longest life spans available. Additionally, the property offers 12 onsite parking spaces within a gated parking garage at grade level. The building is situated on a 7,790-square foot lot on the west side of Dawson Ave., between 7th St and Anaheim St. There is easy access to Downtown Long Beach, Port areas, San Pedro, 710 freeway and areas East on 7th street. Ample grocery, restaurant and other retail establishments are located within a short distance to the propertyThis area is considered by many to be the highest demand rental area in Long Beach. The zip code 90804 has seen rent increases of over 15% per year for the last 3 years. However, currently ownership has not pushed rents to mid/high market.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-08-18T18:29:23.503. 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/82437300

    1119 Dawson Avenue , #9 Long Beach, CA 90804

    • Price: $2,200,000
    • Status: Active Under Contract
    • Updated: 61 min ago
    • ID#: PW18080933
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    7,790
    SQFT
    $282
    $/SQFT
    1987
    Built
    Neighborhood:
    North Long Beach (Nlb)
    County:
    Los Angeles
    Area:
    7 - North Long Beach
    Property Description
    An investment in 1119 Dawson Ave., Long Beach represents an opportunity to acquire 9 apartment units in a solid rental area of central Long Beach. Built in 1987, the property consists of (8) 2 bed + 2 bath units and (1) 1 bed + 1 bath units. Units average 865 square feet. The property features all copper plumbing, which substantially reduces plumbing repair expense and pitched roofs, which also have the longest life spans available. Additionally, the property offers 12 onsite parking spaces within a gated parking garage at grade level. The building is situated on a 7,790-square foot lot on the west side of Dawson Ave., between 7th St and Anaheim St. There is easy access to Downtown Long Beach, Port areas, San Pedro, 710 freeway and areas East on 7th street. Ample grocery, restaurant and other retail establishments are located within a short distance to the propertyThis area is considered by many to be the highest demand rental area in Long Beach. The zip code 90804 has seen rent increases of over 15% per year for the last 3 years. However, currently ownership has not pushed rents to mid/high market.
    Exterior Features

    Garage Spaces 12.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Acres Parking Features Covered ParkingGated Parking Total 12.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    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 2+ Common Walls Laundry Features Community Levels Three Or More

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 5.53 Community Features Curbs Country Us Electric Expense 600.00 Elevation Units Feet Fuel Expense 1246.00 Gross Income 154284.00 Gross Multiplier 14.26 Gross Operating Income 149655.00 Gross Scheduled Income 154284.00 Insurance Expense 2337.00 Land Lease YN No Laundry YN Yes Maintenance Expense 5850.00 Net Operating Income 99606.00 New Taxes Expense 26400.00 Number Of Separate Electric Meters 0 Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 50049.00 Other Expense 1200.00 Other Expense Description Misc. Pest Control Expense 720.00 Professional Management Expense 7714.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Subdivision Name Other North Long Beach (Nlb) Total Expenses 50049.00 Trash Expense 788.00 Vacancy Allowance 4629 Vacancy Allowance Rate 3.00 Water Sewer Expense 3194.00 Water Source Public Zoning Lbr2n

    Listing provided courtesy of Justin White of Justin White.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-08-18T18:29:23.503. 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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