3211 E Wilton Street

    Long Beach, CA 90804
    • $1,199,000
    • STATUS: Active
    • ON SITE: 151 days
    • ID#: PW18094726
    Price Reduced
    UPDATED: 21 min ago
    $1,199,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,191
      SQFT
    • $286
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1966
    County:

    School Ratings & Info

    Description

    I am proud to offer a well-maintained four-unit property in the in the city of Long Beach. The subject property is located at 3211 East Wilton Street, one street West of Redondo Avenue, two blocks South of Pacific Coast Highway. The owner has recently done an amazing rehab on two of the units this year, and the rehab includes; new kitchens, new cabinets, new counter tops, new stove, new stove hood, new bathroom with shower walls, and amazing hardwood flooring throughout. The units show amazing and appease the professional renter. The property also includes an abundance of parking which is very rare for the city. Including 1 two car garage, 3 single car garages with some open spaces with the potential to park nine cars. Built in 1923, this property is a two-story building walk up style with approximately 2635 rentable square feet that are highlighted with an open-floor flan. Located within close proximity to numerous restaurants and shopping corridors this property offers an investor the rare opportunity to acquire a well-maintained income property in a strong rental market in the most desirable community of East Long Beach. With rents 14% below market value, any investor looking to add value could have a 6% capitalization rate by accessing the rental upside and adding addition income by renting out highly sought-after parking in the area, thus making this acquisition a valuable addition to any investor+GGs portfolio.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-23T23:28:15.49. 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/82904698

    3211 E Wilton Street Long Beach, CA 90804

    • Price: $1,199,000
    • Status: Active
    • Updated: 21 min ago
    • ID#: PW18094726
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    4,191
    SQFT
    $286
    $/SQFT
    1966
    Built
    Neighborhood:
    Circle (Ca)
    County:
    Los Angeles
    Area:
    3 - Eastside, Circle Area
    Property Description
    I am proud to offer a well-maintained four-unit property in the in the city of Long Beach. The subject property is located at 3211 East Wilton Street, one street West of Redondo Avenue, two blocks South of Pacific Coast Highway. The owner has recently done an amazing rehab on two of the units this year, and the rehab includes; new kitchens, new cabinets, new counter tops, new stove, new stove hood, new bathroom with shower walls, and amazing hardwood flooring throughout. The units show amazing and appease the professional renter. The property also includes an abundance of parking which is very rare for the city. Including 1 two car garage, 3 single car garages with some open spaces with the potential to park nine cars. Built in 1923, this property is a two-story building walk up style with approximately 2635 rentable square feet that are highlighted with an open-floor flan. Located within close proximity to numerous restaurants and shopping corridors this property offers an investor the rare opportunity to acquire a well-maintained income property in a strong rental market in the most desirable community of East Long Beach. With rents 14% below market value, any investor looking to add value could have a 6% capitalization rate by accessing the rental upside and adding addition income by renting out highly sought-after parking in the area, thus making this acquisition a valuable addition to any investor+GGs portfolio.
    Exterior Features

    Direction Faces South Garage Spaces 4.00 Lot Features 2-5 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 6.00 Pool Features None Pool Private YN No Property Attached YN Yes Roof Shingle

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 1000 Average2 Bed Area Units Square Feet Average3 Bed Area 1100 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.72 Community Features Urban Country Us Elevation Units Feet Gardener Expense 900.00 Gross Income 86660.00 Gross Multiplier 13.42 Gross Operating Income 86660.00 Gross Scheduled Income 89340.00 Insurance Expense 1467.00 Land Lease YN No Laundry Income 1200.00 Laundry YN Yes Maintenance Expense 2400.00 Net Operating Income 56647.00 New Taxes Expense 15625.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 0 Number Of Units Leased 4 Operating Expense 30013.00 Other Expense 1850.00 Other Expense Description Misc. Other Income1 300.00 Professional Management Expense 4467.00 Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Circle (Ca) Tenant Pays Cable TvElectricityGas Total Actual Rent 6900.00 Total Expenses 30013.00 Trash Expense 0.00 Vacancy Allowance 2680 Vacancy Allowance Rate 3.00 Water Sewer Expense 3304.00 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 2018-09-23T23:28:15.49. 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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