Yes, the pictures are worth a thousand words, and so is the Price which is incredible given how many 4 plex owners are asking $1.5M or more for their properties in Long Beach these days – this beautiful property is being offered at $849,000.
Location is 1926 Lime Ave, Long Beach, California, which is located near Pacific Coast Hwy and Atlantic Ave, just 2 miles from downtown Long Beach, and 2.5 miles from the beach/ocean.
The area has a mixture of single family homes and duplexes and triplexes and fourplexes.
Centrally located, the property is near the high school Polytechnic and is accessible to freeways 405 and 710.
The property consists of a front house which is the original Craftman from the 1930s, which has 3 bedrooms and 1 bath and has inside laundry, getting a rent of $2050. The second building is in the middle and has a 1 bedroom 1 bath. The 3rd building has 4 garages on the ground floor and on the 2nd floor, 2 1-bedroom units. The 1-bedroom units in the property receive between $975 and $1175 in rent.
All 4 units are occupied by Section 8 tenants which are excellent tenants that are stable and on government assistance. They pay their portion of the rent on time, and the government pays their portion of the rent usually early, directly deposited to the owner.
Annual inspections are required of Section 8 properties, therefore the property has been maintained in good condition, meeting all annual inspection requirements.
If you have any interest in this property, I suggest you move quickly and drive by the property – there is no sign on the property and the tenants are not yet aware of the sale, so please do not disturb occupants – drive and look and call me or email me and I’ll be happy to write up an offer for you.
Offers are made Subject to Interior Inspection, meaning you write the offer first, then may get an opportunity to do a walk-through inspection afterwards, but this is done before we collect any deposit. But only serious buyers will be invited.
For more information, please don’t hesitate to contact me directly at my cell # 310-739-8272 or via email at NancyD@century21masters.com.
Thank you for your attention! And please, the market is good, and I am not too busy to take care of your real estate needs!