1827 E 4th Street, Long Beach, CA 90802

$4,000,000
11,088
SqFt
List Price
$4,000,000
Status
ACTIVE
MLS#
PW20149273
Year Built
1928
Living Sq. Ft
11,088
Lot Size
8,765
Acres
0.2012
Lot Location
16-20 Units/Acre
Days on Market
61
Property Type
Multifamily
Stories
Two Levels
Builders Tract Code
Alamitos Beach (AB)
Neighborhood
Alamitos Beach (Ab)

Property Description

827 E. 4th Street is a seventeen-unit investment asset located on 4th Street / Retro Row, one of the most popular rental markets in Long Beach. A new owner has the opportunity to realize ±34% rental upside potential by renovating the remaining units and bringing in-place rents to market rate. VALUE ADD OPPORTUNITY: The property offers (12) studio units, (4) one-bedroom / one-bath units and (1) penthouse two-bedroom unit with wood beam vaulted ceilings and fireplace. The building features all the charm and character of a 1920's vintage property with hardwood floors, built-ins, casement windows and interior french doors. Two of the of the units have been renovated with modernized kitchens and baths, including stone countertops, custom tile, custom cabinetry and new vanities. HIGHLY SOUGHT-AFTER RENTAL MARKET: The 4th Street / Retro Row neighborhood is one of the most desirable rental markets in Long Beach because of its walkability to a plethora of amenities - the subject property has a Walk Score of 93. Additionally, this neighborhood is minutes to the beach and bike path at Alamitos Beach, as well as trendy cafes, restaurants and boutiques in East Village Arts District and employment opportunities in Downtown Long Beach.

Additional Information

Tract Number
5765
Lot Description
Urban
Pool Description
None
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
17
Gross Scheduled Income
$238,510
Operating Expense
96237
Unit One Total Units
1
Unit One Beds
2
Unit One Baths
1
Unit One Actual Rent
1895.00
Unit One Total Rent
1895.00
Unit One Pro Forma
2400
Unit One Furnished
Unfurnished
Unit Two Total Units
4
Unit Two Beds
1
Unit Two Baths
1
Unit Two Actual Rent
1305.00
Unit Two Total Rent
5220.00
Unit Two Pro Forma
1750
Unit Two Furnished
Unfurnished
Unit Three Total Units
12
Unit Three Baths
1
Unit Three Actual Rent
1030.00
Unit Three Total Rent
12360.00
Unit Three Pro Forma
1400
Unit Three Furnished
Unfurnished

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Robert Stepp from Keller Williams - Santa Monica

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.