767 Freeman Avenue Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90804
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,332 sqft
Price per Sqft $355
Subdivision Eastside
MLS Listing ID PW-25182759
Year Built 1961
Lot Size 6,751 Sqft
Property Sub-Type Apartment
Property Description
Excellent cash flow building in prime Eastside Long Beach area. 7 units total, four garages with 4 parking spaces in front of garage. All unit doors face south for lots of natural light and share common back yard space for happy tenants. Common area laundry room for convenience. All units have been well maintained and upgraded, granite counters, low maintenance tile flooring and updated bathrooms. Very little deferred maintenance. All 7 unit electrical subpanels upgraded in 2024. Great location. Rose Park is right around the corner, walking distance to shops and restaurants on 4th Street, 7th Street and Redondo. Current monthly income 13,935 (167,220 annual). GRM is 11.3x. Cap rate with 35% expenses is 5.7%. Market rents are 2,250 with garage and 2050 without. Building has been professionally managed with great tenants. The building is the perfect combination of a quality and cash flow. Units show very well as they are upgraded upon vacancy. This is an easy building to own and manage with additional upside.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBR2N
Interior
Heating Wall Furnace
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 4.0
Pool None
Community Features Sidewalks,Street Lights
Utilities Available Sewer Connected,Water Connected,Electricity Connected,Natural Gas Connected
Building
Lot Description Back Yard
Sewer Public Sewer