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    424 W 9th Street

    Long Beach, CA 90813
    • $1,525,000
    • STATUS: Active
    • ON SITE: 105 days
    • ID#: SB21001212
    Price Reduced
    UPDATED: 58 min ago
    $1,525,000
    • 0
      BEDS
    • 0.09
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,274
      SQFT
    • $466
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1904
    County:

    School Ratings & Info

    Description

    424 9th St is a great opportunity to own in Downtown Long Beach without a market setting price per unit or huge down payment. Listed at 190k a door and over a 5% CAP rate, this is well maintained property thats easy to manage. Tenants enjoy the close proximity to dining and shopping options, which has led to an average length of tenancy of 5 years! The subject property also offers upside as the Willmore District and Downtown are revitalizing the look to attract young professionals and have already started with an estimated $3.5 billion under construction. All tenants are currently up to date.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-20T18:28:50.687. 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 deemed reliable but is not guaranteed accurate by the MLS or Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
    www.bestorangecountyhomesearch.com/homes/112998596
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    424 W 9th Street Long Beach, CA 90813

    • Price: $1,525,000
    • Status: Active
    • Updated: 58 min ago
    • ID#: SB21001212
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.09
    Acres
    3,274
    SQFT
    $466
    $/SQFT
    1904
    Built
    Neighborhood:
    Willmore District (Wm)
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    Property Description
    424 9th St is a great opportunity to own in Downtown Long Beach without a market setting price per unit or huge down payment. Listed at 190k a door and over a 5% CAP rate, this is well maintained property thats easy to manage. Tenants enjoy the close proximity to dining and shopping options, which has led to an average length of tenancy of 5 years! The subject property also offers upside as the Willmore District and Downtown are revitalizing the look to attract young professionals and have already started with an estimated $3.5 billion under construction. All tenants are currently up to date.
    Exterior Features

    Carport YN Yes Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 6 Parking Features Carport Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No Spa Features None Spa YN No View City Lights View YN Yes

    Interior Features

    Common Walls No Common Walls

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.8 Common Interest Community Apartment Community Features Sidewalks Electric Expense 1600 Fuel Expense 1600 Garage YN No Gross Income 120900 Gross Scheduled Income 120900 Insurance Expense 1146 Land Lease YN No Laundry Features Inside Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional1031 Exchange Maintenance Expense 3627 Net Operating Income 77375 New Construction YN No New Taxes Expense 19063 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 114855 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 10075 Trash Expense 1600 Vacancy Allowance Rate 5 Water Sewer Expense 1600 Water Source Public Zoning Lbpd10

    Listing provided courtesy of Stephen Takahashi of Lyon Stahl Investment Real Estate, Inc. and John Stiegler II of Lyon Stahl Investment Real Estate, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-20T18:28:50.687. 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 deemed reliable but is not guaranteed accurate by the MLS or Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
     
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    Doherty Real Estate Group | eXp Realty of California, Inc.
    27101 Puerta Real
    Mission Viejo CA, 92691