561 E 64th, Long Beach, CA 90805
561 E 64th, Long Beach, CA 90805
561 E 64th, Long Beach, CA 90805
561 E 64th, Long Beach, CA 90805
561 E 64th, Long Beach, CA 90805
561 E 64th, Long Beach, CA 90805
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Gloria Shepard

Gloria Shepard

+1(619) 889-8498
$ 2,825,000
Est. payment | /mo

1 Bed

1 Bath

0.33 Acres Lot

Save
$ 2,825,000
Est. payment | /mo
Save

1 Bed

1 Bath

0.33 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID PW26036925

Bedrooms 1

Lot Size 0.334 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

We are pleased to present 561 E. 64th Street, a 1960-construction 16 unit multifamily property located in North Long Beach to market. The property sits on a large 14,552 square foot lot and consists of 16 one bed/one bath units. Operating at a 6.18% cap rate and a 9.19 GRM, in place income is strong. The offering is priced at an attractive low basis of $176,563 per unit and $283 per square foot, positioning the asset below replacement cost and comparable sales in the market. Sixteen covered parking spaces are on site. Current rents remain approximately 18% below market, allowing further upside for a new buyer. The property has recently been extensively replumbed with new pex and copper throughout. Favorable market financing is available, requiring under a $1,000,000 down payment with the ability to achieve over a 7% cash-on-cash return utilizing interest-only financing (buyer to verify). The property is ideally situated directly across the street from Jordan High School, within a well-established residential corridor of North Long Beach.

Location

State CA

County Los Angeles

Zoning Assessor

Direction Off of Atlantic and 64th

Interior

Fireplace No

Exterior

Pool Private

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 7115028006

Acceptable Financing Conventional

Listing Terms Conventional

MLS Router / San Diego MLS
Listed by Jackson Jorgensen, DRE#02022727 Younglewin Advisors, Inc. 

NEARBY SCHOOL & BUSINESS

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Gloria Shepard

Gloria Shepard

CA DRE #01040966

+1(619) 889-8498

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