5279 E. The Toledo , #8

    Long Beach, CA 90803
    • $2,299,000
    • STATUS: Active
    • ON SITE: 279 days
    • ID#: NP17247725
    UPDATED: 59 min ago
    $2,299,000
    • 0
      BEDS
    • 0.09
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,389
      SQFT
    • $678
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1947
    County:

    School Ratings & Info

    Description

    PRIME turn key property in the high demand neighborhood of Belmont Shore /Belmont Park. This two story balcony style EIGHT UNIT building is located just a few blocks from the beach, and has a total of 8 Studio/one bath units. Comprised of four different floor plans, the building has been recently upgraded and is in turn key condition. All eight units have been recently renovated, with upgraded bathrooms and interiors that include hardwood laminated floors. The site offers 1.5 parking spaces, in a residential neighborhood with an abundance of street parking. The building has an on-site laundry room. The exterior was re-landscaped and painted in 2017. An opportunity to own an asset that offers top appreciation and the maximum in rental income in one of Long Beach's best neighborhoods! ASSUME existing First TD, approx. $1,060,000 @ 3.56% due 5/2023.

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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/78704582

    5279 E. The Toledo , #8 Long Beach, CA 90803

    • Price: $2,299,000
    • Status: Active
    • Updated: 59 min ago
    • ID#: NP17247725
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.09
    Acres
    3,389
    SQFT
    $678
    $/SQFT
    1947
    Built
    Neighborhood:
    Belmont Shore (Bsd)
    County:
    Los Angeles
    Area:
    1 - Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr
    Property Description
    PRIME turn key property in the high demand neighborhood of Belmont Shore /Belmont Park. This two story balcony style EIGHT UNIT building is located just a few blocks from the beach, and has a total of 8 Studio/one bath units. Comprised of four different floor plans, the building has been recently upgraded and is in turn key condition. All eight units have been recently renovated, with upgraded bathrooms and interiors that include hardwood laminated floors. The site offers 1.5 parking spaces, in a residential neighborhood with an abundance of street parking. The building has an on-site laundry room. The exterior was re-landscaped and painted in 2017. An opportunity to own an asset that offers top appreciation and the maximum in rental income in one of Long Beach's best neighborhoods! ASSUME existing First TD, approx. $1,060,000 @ 3.56% due 5/2023.
    Exterior Features

    Architectural Style Traditional Construction Materials Stucco Fence YN No Fencing None Foundation Details Raised Garage Spaces 0.00 Lot Features 6-10 Units/AcreLot Shape-RectangularWalkstreet Lot Size Source Assessor Lot Size Units Square Feet Parking Features Off SiteOtherSee Remarks Parking Total 0.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Alley Paved Roof Composition View None View YN No

    Interior Features

    Appliances Gas Stove Appliances YN Yes 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 1 Common Wall Fireplace Features None Fireplace YN No Flooring Laminate Heating Wall HeaterNatural Gas Heating YN Yes Interior Features Ceramic CountersOpen Floor PlanTile Counters Laundry Features CommunityGas Dryer HookupIndividual RoomInsideWasher Hookup Levels Two Room Type Dressing AreaKitchenLiving Room Window Features Blinds

    Property Features

    Accessibility Features No Interior Steps Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.60 Community Features CurbsGuttersSidewalksSuburban Country Us Electric Electricity - On Property Electric Expense 49.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 125643.00 Gross Scheduled Income 136080.00 Insurance Expense 2890.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 600.00 Laundry YN Yes Net Operating Income 86037.00 New Taxes Expense 25172.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 0 Number Of Units Leased 8 Number With Range 8 Operating Expense 45961.00 Operating Expense Percent 2.97 Professional Management Expense 5267.00 Property Condition Repairs CosmeticTurnkeyUpdated/Remodeled Rent Control YN No Security Features Smoke Detector Senior Community YN No Special Listing Conditions Standard Subdivision Name Other Belmont Shore (Bsd) Tenant Pays ElectricityGas Total Actual Rent 11340.00 Total Expenses 45961.00 Trash Expense 0.00 Utilities Phone AvailableSewer ConnectedUnderground UtilitiesWater Connected Vacancy Allowance 4082 Vacancy Allowance Rate 3.00 Water Sewer Expense 691.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Rae Rodgers of Re/Max Fine Homes.


    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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