Five unit investment property located within an Opportunity Zone of Long Beach. Listed for a modest $160,000 per unit, this late 1920's construction property consists of six bedrooms and five bathrooms. Every unit stands independent, with no common walls. Four buildings provide one bedroom and one bathroom each. The fifth building, located at the rear of the property, contains two bedrooms and one bathroom. Units are separately metered for gas and electricity. Renovations have included over half of the windows being replaced with double-pane windows and roofs are five years new. Rear alleyway access provides the opportunity to create a minimum of 5 personal parking spaces for tenants. With additional renovations, and the substantial rental upside potential, investors could net an 8.20% cap rate at market rents. *SOLD AS-IS* **DO NOT DISTURB TENANTS**
Off market
$894,744
1241 E Wesley Dr, Long Beach, CA 90806
6beds
5baths
2,576sqft
MultiFamily
Built in 1929
-- sqft lot
$-- Zestimate®
$347/sqft
$4,343 Estimated rent
Owner options
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 5
Features
- Common walls with other units/homes: Detached/No Common Walls
Interior area
- Total interior livable area: 2,576 sqft
Property
Parking
- Total spaces: 5
Lot
- Size: 6,534 sqft
Details
- Parcel number: 7210040007
Construction
Type & style
- Home type: MultiFamily
Condition
- Fixer
- Year built: 1929
Community & neighborhood
Location
- Region: Long Beach
Other
Other facts
- County: Los Angeles
- Heating: Wall
- PropertyType: Residential Income
- SourceLotSizeArea: Assessor
- ParkingGarage: Driveway - Concrete, Public
- SourceLivingArea: Title Company
- Cooling: Window Unit(s)
- PropertyCondition: Fixer
- SourceLotSizeDimensions: Assessor
- Style: Bungalow
- Country: US
- ListingStatus: Pending
- ListingArea: Poly High
- CommonWalls: Detached/No Common Walls
- UnitTypeType: 2106, 2107, 2108, 2109, 2110