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3374 Santa Fe Avenue

Long Beach, CA 90810
  • $1,475,000
  • STATUS: Active
  • ON SITE: 21 Days
  • ID#: 23308859
Price Reduced
UPDATED: 14 min ago
$1,475,000
  • 12
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,520
    SQFT
  • $419
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1957
County:

School Ratings & Info

Listing Agent(s): John Mccann of Lyon Stahl Investment Real Estate, Inc. (310-425-9838)


Description

3374 Santa Fe Ave is a 6-unit building built in 1957. The property is composed of (6) 2 bed + 1 bath units. 4 out of 6 units are occupied, 2 units will be delivered vacant. Each Unit is approximately 587SQFT. The average market rent in this area of Long Beach is $1,750. This allows a potential for an investor to take advantage of all the rental upside without having the added cost to relocate tenants. The owner has made a few key capital improvements over the ownership period including dual pane windows, full concrete in common area space, newer roof with warranty, newer plumbing in kitchens and bathrooms, and re-tile some of the units. The property has security gates in the front and rear of the property and has 4 parking spaces on the alley. There is one 75-gallon water heater that supplies all of the units with hot water. The property is individually metered for gas and electric. The owner pays for water, trash, and common area electricity. While the tenants pay for gas and electricity within their units. We may be able to negotiate a buyout or a relocation for the lowest paying unit. This is a value-add opportunity for an investor looking for a property in a well-located area near schools, parks, and the freeway.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-29T10:31:14.48. 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 deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.
www.romerohometeam.com/homes/143189363
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3374 Santa Fe Avenue Long Beach, CA 90810

  • Price: $1,475,000
  • Status: Active
  • On Site: 21 Days
  • Updated: 14 min ago
  • ID#: 23308859
12
Beds
0
Baths
0
½ Baths
0.09
Acres
3,520
SQFT
$419
$/SQFT
1957
Built
Neighborhood:
11 - Westside
County:
Los Angeles
Area:
11 - Westside
Property Description
3374 Santa Fe Ave is a 6-unit building built in 1957. The property is composed of (6) 2 bed + 1 bath units. 4 out of 6 units are occupied, 2 units will be delivered vacant. Each Unit is approximately 587SQFT. The average market rent in this area of Long Beach is $1,750. This allows a potential for an investor to take advantage of all the rental upside without having the added cost to relocate tenants. The owner has made a few key capital improvements over the ownership period including dual pane windows, full concrete in common area space, newer roof with warranty, newer plumbing in kitchens and bathrooms, and re-tile some of the units. The property has security gates in the front and rear of the property and has 4 parking spaces on the alley. There is one 75-gallon water heater that supplies all of the units with hot water. The property is individually metered for gas and electric. The owner pays for water, trash, and common area electricity. While the tenants pay for gas and electricity within their units. We may be able to negotiate a buyout or a relocation for the lowest paying unit. This is a value-add opportunity for an investor looking for a property in a well-located area near schools, parks, and the freeway.
Exterior Features

Direction Faces West Parking Features None Parking Total 4

Interior Features

Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Cap Rate 5.14 Community Features Gated Gross Income 117144 Laundry Features None Levels Two Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 75761 New Construction YN No Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Zoning Lbr3t



Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-29T10:31:14.48. 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 deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.
 
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Romero Home Team | eXp Realty
865 Aerovista Pl, Suite 120
San Luis Obispo CA, 93401
Listing Agent(s): John Mccann of Lyon Stahl Investment Real Estate, Inc. (310-425-9838)