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$1,795,000

Est. payment - /mo

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5,850 Sqft Lot

New

2626 E Anaheim ST Long Beach, CA 90804

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Chrystal & David Schoenbrun

pacifichomegroup@gmail.com +1(818) 601-7658

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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

MORTGAGE CALCULATOR

Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.

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Chrystal & David Schoenbrun

Realtor/Broker Associate | License ID: 01409474 & 01761327

+1(818) 601-7658

2626 E Anaheim ST Long Beach, CA 90804

Chrystal & David Schoenbrun

Key Details

Location

Interior

Exterior

Building

Others

MORTGAGE CALCULATOR

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2626 E Anaheim ST