1241 E Wesley Drive, Long Beach, CA 90806
- $845,000
- Sold Price
- $845,000
- List Price
- $800,000
- Closing Date
- Aug 31, 2021
- Status
- CLOSED
- MLS#
- 21763586
- Year Built
- 1929
- Lot Size
- 6,534
- Acres
- 0.15
- Days on Market
- 41
- Property Type
- Multifamily
- Style
- Bungalow
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**
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Additional Information
- Heat
- Wall Furnace
- Attached Structure
- Detached
- Number Of Units Total
- 5
Listing courtesy of Listing Agent: John McCann (jack@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
Listing sold by Jimmy Thach from Seal Real Estate
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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.