For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $1,685,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24105603
Sold Date 09/26/24
Bedrooms 2
HOA Y/N No
Lot Size 5,663 Sqft
Property Description
Pleased to present 6508 Orange Avenue, a secure 8-unit apartment building in the heart of vibrant Long Beach, California. Built in 1960, the property consists exclusively of two-bedroom/one-bathroom units. For added comfort and convenience, the property features an on-site laundry facility as well as (4) off-street parking spaces for tenants to use. This apartment building offers residents easy access to an array of local amenities including shopping centers, restaurants, entertainment venues, and recreational parks. With convenient access to major transportation routes, commuting to other parts of the city is effortless. Priced at $214,375/unit for this unit mix, this property is one of the more affordable deals on the market. Further, through modernization of the units and increases on current rent levels that are projected to be 53% below market, this property offers phenomenal value appreciation and exceptional future cash-on-cash returns.
Pleased to present 6508 Orange Avenue, a secure 8-unit apartment building in the heart of vibrant Long Beach, California. Built in 1960, the property consists exclusively of two-bedroom/one-bathroom units. For added comfort and convenience, the property features an on-site laundry facility as well as (4) off-street parking spaces for tenants to use. This apartment building offers residents easy access to an array of local amenities including shopping centers, restaurants, entertainment venues, and recreational parks. With convenient access to major transportation routes, commuting to other parts of the city is effortless. Priced at $214,375/unit for this unit mix, this property is one of the more affordable deals on the market. Further, through modernization of the units and increases on current rent levels that are projected to be 53% below market, this property offers phenomenal value appreciation and exceptional future cash-on-cash returns.
Location
State CA
County Los Angeles
Area Long Beach (90805)
Zoning Assessor
Exterior
Garage Unit1:Assigned
Building
Lot Description Curbs, Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Level or Stories 2 Story
Others
Monthly Total Fees $124
Acceptable Financing Conventional, Exchange
Space Rent $1,369
Listing Terms Conventional, Exchange
Financing Conventional
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Kobe Zimmerman
Berkshire Hathaway Home Services California Properties
kobezimmerman@bhhscalifornia.com +1(858) 753-3353Our team is ready to help you sell your home for the highest possible price ASAP
Bought with NON LISTED AGENT • San Diego