1510 Freeman Avenue

    Long Beach, CA 90804
    • $975,000
    • STATUS: Active
    • ON SITE: 114 days
    • ID#: RS18127660
    UPDATED: 51 min ago
    $975,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,613
      SQFT
    • $373
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1953
    County:

    School Ratings & Info

    Description

    First time on the market in over 15 years and ownership has never aggressively raised rents. Built in 1953, the Freeman Apartments Features 5 single-story units comprised of (5) 1 Bed / 1 Bath units, (3) on-site garages & leased coin operated laundry (month to month). Huge value add opportunity with roughly 44% upside in rents and a market cap rate of 6.63%.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-22T10:30:36.423. 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/84079991

    1510 Freeman Avenue Long Beach, CA 90804

    • Price: $975,000
    • Status: Active
    • Updated: 51 min ago
    • ID#: RS18127660
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    2,613
    SQFT
    $373
    $/SQFT
    1953
    Built
    Neighborhood:
    Eastside (Es)
    County:
    Los Angeles
    Area:
    3 - Eastside, Circle Area
    Property Description
    First time on the market in over 15 years and ownership has never aggressively raised rents. Built in 1953, the Freeman Apartments Features 5 single-story units comprised of (5) 1 Bed / 1 Bath units, (3) on-site garages & leased coin operated laundry (month to month). Huge value add opportunity with roughly 44% upside in rents and a market cap rate of 6.63%.
    Exterior Features

    Garage Spaces 3.00 Lot Features 6-10 Units/AcreBack YardLevel With StreetNear Public TransitPavedYard Lot Size Source Assessor Lot Size Units Square Feet Parking Total 3.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 522 Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.46 Community Features CurbsGuttersSidewalksStorm DrainsStreet LightingUrban Country Us Electric Expense 418.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 480.00 Gross Income 57600.00 Gross Multiplier 16.93 Gross Operating Income 55290.00 Gross Scheduled Income 57600.00 Insurance Expense 1602.00 Land Lease YN No Laundry Income 600.00 Laundry YN Yes Licenses Expense 244.00 Maintenance Expense 3750.00 Net Operating Income 33686.00 New Taxes Expense 12618.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 5 Operating Expense 22204.00 Other Expense 1250.00 Other Expense Description Reserves Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Subdivision Name Other Eastside (Es) Supplies Expense 496.00 Tax Rate 1.22 Tax Year 2018 Tenant Pays ElectricityGas Total Actual Rent 4750.00 Total Expenses 22204.00 Trash Expense 0.00 Vacancy Allowance 1710 Vacancy Allowance Rate 3.00 Water Sewer Expense 1356.00 Water Source Public Year Built Source Assessor Zoning Lbr2n

    Listing provided courtesy of Andrew Mcallister of Nationwide Real Estate Execs.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-22T10:30:36.423. 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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