$1,299,000
$1,299,000
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1604 Orizaba AVE Long Beach, CA 90804
Key Details
Sold Price $1,299,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID RS16750743
Sold Date 01/24/17
HOA Y/N No
Year Built 1953
Annual Tax Amount $15,870
Tax Year 2017
Property Description
Built in 1953, the subject property is a Six-unit apartment complex located in Eastside Long Beach, CA and is not subject to rent control. The building features a unit mix of (3) – Two Bedroom / Two Bath and (3) – One Bedroom / One Bath spacious units. Two of the Two Bedroom units have spacious floor plans and vaulted ceilings, while the remaining Two Bedroom unit has an attached garage. Currently, Two - One Bedroom units have been completed gutted, renovated and rented to quality tenants leaving significant upside in rents for a new owner by renovating the four remaining units. There is an estimated +/-22% of upside in additional monthly income by renovating the remaining units, adding an on-site coin operated laundry facility, charging for the other three on-site garages and utilizing the nine on-site storage units.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBR2N
Interior
Fireplace No
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Curbs, Gutter(s), Street Lights, Sidewalks, Urban, Park
Total Parking Spaces 3
Private Pool No
Building
Lot Description Near Park
Story Two
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Others
Tax ID 7259028006
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with Joe Lightman • Star Real Estate