13
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$1,795,000
Est. payment /mo
5,850 Sqft Lot
New
2626 E Anaheim ST Long Beach, CA 90804
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Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25165266
HOA Y/N No
Year Built 1936
Lot Size 5,850 Sqft
Property Sub-Type Mixed Use
Property Description
Fully Renovated 6-unit building cash flowing at an amazing Current Cap Rate of 5% from day 1! Preliminary plans to add 8 ADUs to achieve an incredible 12.1% Cap Rate, 5.3 GRM, and only 177k/unit after taking into account all the construction costs (~691k assuming $250/SF). Attractive unit mix consisting of (4) well-designed One-Bedroom | One-Bathroom residential units plus (2) well-established commercial tenants (mini-market & flower-shop) both of which have been at this location for many years and have expressed interest for continued tenancy for years to come. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. Large lot with 7 parking spaces in the back with future development & ADU potential. The property has seen a complete restoration, down to every inch. Overall systems were updated with new copper plumbing in units, new electrical sub-panels in units, new HVAC systems, new water heaters, and brand-new windows in each unit. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets and modern countertops. The bathrooms boast new vanities and modern fixtures along with sleek bathtubs. Located in the heart of the vibrant Zaferia Design District, this well-positioned asset offers unbeatable access to local staples such as Joe Jost's, the Traffic Circle, Recreation Park, eclectic restaurants, bars, boutiques, galleries, and more. Located just minutes from the beach and central to the 405, 710 and 605 Freeways, offering tenants easy access to attractions and employers across the region. Long Beach is a popular rental market and population and employment hub with easy access to the beach, colleges (such as Cal State Long Beach), and major attractions including the Queen Mary, Aquarium of the Pacific, and more. Long Beach offers investors the opportunity to acquire assets in a coastal rental market with low vacancy rates without premium coastal pricing.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LBCCP
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Street Lights, Sidewalks
Private Pool No
Building
Lot Description Back Yard, Yard
Story 2
Entry Level Two
Sewer Public Sewer
Water Other
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7260028004
Energy Description 500.0
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard
Listed by Alec Kara Keller Williams Pacific Estate 818-720-8521