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    1241 E Wesley Dr

    Long Beach, CA 90806
    • $800,000
    • STATUS: Active
    • ON SITE: 6 days
    • ID#: 21-763586
    New On Site 6 Days Ago
    UPDATED: 227 min ago
    $800,000
    • 6
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,576
      SQFT
    • $311
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1929
    County:
    Area:

    School Ratings & Info

    Description

    Five unit investment property located within an Opportunity Zone of Long Beach. Listed for a modest $160,000 per unit, this late 1920's construction property consists of six bedrooms and five bathrooms. Every unit stands independent, with no common walls. Four buildings provide one bedroom and one bathroom each. The fifth building, located at the rear of the property, contains two bedrooms and one bathroom. Units are separately metered for gas and electricity. Renovations have included over half of the windows being replaced with double-pane windows and roofs are five years new. Rear alleyway access provides the opportunity to create a minimum of 5 personal parking spaces for tenants. With additional renovations, and the substantial rental upside potential, investors could net an 8.20% cap rate at market rents. *SOLD AS-IS* **DO NOT DISTURB TENANTS**

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-27T23:42:33.61. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.theparsonsrealestateteam.com/homes/119551143
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    1241 E Wesley Dr Long Beach, CA 90806

    • Price: $800,000
    • Status: Active
    • Updated: 227 min ago
    • ID#: 21-763586
    6
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    2,576
    SQFT
    $311
    $/SQFT
    1929
    Built
    Neighborhood:
    Poly High
    County:
    Los Angeles
    Area:
    Poly High
    Property Description
    Five unit investment property located within an Opportunity Zone of Long Beach. Listed for a modest $160,000 per unit, this late 1920's construction property consists of six bedrooms and five bathrooms. Every unit stands independent, with no common walls. Four buildings provide one bedroom and one bathroom each. The fifth building, located at the rear of the property, contains two bedrooms and one bathroom. Units are separately metered for gas and electricity. Renovations have included over half of the windows being replaced with double-pane windows and roofs are five years new. Rear alleyway access provides the opportunity to create a minimum of 5 personal parking spaces for tenants. With additional renovations, and the substantial rental upside potential, investors could net an 8.20% cap rate at market rents. *SOLD AS-IS* **DO NOT DISTURB TENANTS**
    Exterior Features

    Lot Size Area 6534 Other Structures None Parking Garage PublicDriveway - Concrete Paved YN Yes Style Bungalow Total Parking 5

    Interior Features

    Baths Total 5.00 Common Walls Detached/No Common Walls Cooling Window Unit(S) Equipment None Heating Wall

    Property Features

    Alley YN Yes Gross Income 39600 Gross Operating Income 38412 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 20791.00 Number Of Buildings 5 Number Of Units 5 Owner Pays Water Property Condition Fixer Sale Type Standard Source Living Area Title Company Source Lot Size Area Assessor Source Lot Size Dimensions Assessor Tenant Pays GasElectricity Total Annual Expense 17621 Type Of Units Income Water Heaters YN Yes Year Built Source Assessor Zoning Lbr2n

    Listing provided courtesy of John Mccann DRE#01963932 of Lyon Stahl Investment Real Estate, Inc..


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-27T23:42:33.61. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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