1034 Newport Avenue

Long Beach, CA 90804

$1,675,000

List Price

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bed Beds

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shower Baths

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straighten / sqft

1972

calendar_month Built

Property Description

4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and the entire property is gated and fully secured. The property currently grosses approx $113,700 per year and is priced attractively at a real 4.31% CAP (actual) and a 14.73 GRM. At market rents the property is a 12.50 GRM and 5.45% CAP. Approx 18% upside in current rents.

Listing Information

List Price $1,675,000
Status Active
MLS SB24243567
HOA $0
Type Residential Income
Subtype Quadruplex
Year Built 1972
Lot Size 6,251
Structure Size N/A
DOM 1
Courtesy Of Re/Max Commercial & Investment
Listing Agent Brian Estes DRE#01394559

Interior Features

Laundry Information
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Total Bedroom
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Exterior Information

Maps

Listing information courtesy of: Brian Estes, Re/Max Commercial & Investment 310-802-2525. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 4th, 2024 at 8:38 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.