1420 Walnut Avenue, Long Beach, CA 90813

$1,995,000
7,029
SqFt
List Price
$1,995,000
Price Change
▼ $55,000 1557887422
Status
ACTIVE
MLS#
PW19056424
Year Built
1963
Living Sq. Ft
7,029
Lot Size
6,324
Acres
0.1452
Lot Location
11-15 Units/Acre
Days on Market
70
Property Type
Multifamily
Stories
Two Level
Neighborhood
Eastside (Es)

Property Description

We are pleased to present an 8-unit multi-family property located in Long Beach, CA. The unit mix consists of (2) 3-Bedrooms / 2-Bathroom units, (4) 2-bedroom / 1-Bathroom units and (2) 1-Bedroom / 1-Bathroom units. The structure was built in 1963 and is 7,029 rentable square feet on a 6,323 square foot lot. This property has a great amount of potential to add value and raise rents in order to increase cash flow on this asset and ensure to meet current market rents. Owners enjoy the high demand for rentals in a coastal city of Long Beach, as well as shopping, restaurants and nightlife in Downtown Long Beach and the surrounding areas. The City of Long Beach continues to progress forwards and is currently experiencing a major redevelopment of $2.2 billion. An example of this large scale redevelopment is the new Long Beach Civic Center, which is estimated to be completed early 2019. The Civic Center and the surrounding areas will further continue Long Beach's ability to attract renters due to its strong economy and high quality of life.

Additional Information

Tract Number
575202
Lot Description
Curbs, Sidewalks
Pool Description
None
Garage Spaces Total
4
Sewer
Public Sewer, Septic Type Unknown, Unknown
Water
Public
Attached Structure
Attached
Total Number of Units
8

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Kevin King from Marcus & Millichap

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.