$965,000
$949,000
1.7%For more information regarding the value of a property, please contact us for a free consultation.
310 E 8th ST Long Beach, CA 90813
Key Details
Sold Price $965,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID SB18124377
Sold Date 07/10/18
HOA Y/N No
Year Built 1918
Property Description
Just Blocks to the Ocean this spacious 4-plex has two 2-bedroom/1-bath units plus two extra large 1-bedroom/1-baths units. Each 1-bedroom unit has a bonus dining room/office and front porch. The units feature vintage built-in cabinets, high ceilings, and hardwood floors. Below market rents allow for a very achievable market cap over 6.78%. This turn key asset has renovated units, newer copper plumbing, sewer line, and water heater.
The 8th Street Apartments are situated just blocks from the $3.5 billion in planned developments coming to the nearby area including the $520 million Civic Center project, $250 million Queen Mary Island waterfront development, and $53 million Long Beach Aquarium expansion
With a large parking lot across the street and a 94 Walk-score located in the heart of downtown with easy access to public transportation, restaurants, the ocean and shopping, many tenants choose to go car free.
One of the larger 4-unit properties on the market, this turn-key 4.76% cap rate asset is the perfect investment for an exchange buyer or owner/user looking to own a piece of one of Southern California’s last affordable beach communities. Do not miss this property as this is one of the last opportunities to buy downtown long beach at an affordable price.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD29
Rooms
Ensuite Laundry None
Interior
Interior Features High Ceilings, Open Floorplan, Stone Counters
Laundry Location None
Fireplace No
Laundry None
Exterior
Pool None
Community Features Sidewalks, Urban
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story Two
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7273020002
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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