Closed – 2-Story Duplex in Long Beach | $835,000
Johnnie Stiegler of Lyon | Stahl is pleased to have closed 2820 E 70th St, a duplex in Long Beach!
This property sold for $835,000
This charming 2-story duplex features (1) 3-Bedroom/2-Bath downstairs unit and (1) 3-Bedroom/1.5-Bathroom upstairs unit, for a total living area of 2,496 sqft. Situated on a large 9,186 sqft. lot, there is an abundance of parking between the (2) 2-car garages, driveway and additional uncovered parking space.
The units are well-maintained with minor updates and recent painting. Each unit features its own water heater, Central AC & Heating, as well as individual metering for gas & electric. The current owner also recently installed brand new white perimeter fencing.
With great in-place income and rental upside rent potential, this is an excellent opportunity for an owner-user and investor alike to acquire an investment property in one of the most rapidly developing cities in Los Angeles.
• Unit Mix: (1) 3-Bed/2-Bath& (1) 3-Bed/1.5-Bath Unit
• 2,496 SF 2-Story Building Situated on a Large 9,186 SF Lot
• Current 4.05% CAP & 16.65 GRM
• Market 5.05% CAP & 14.21 GRM
• Each Unit Has Its Own Floor & Water Heater
• Separately Metered for Gas & Electric
• Recently Installed Perimeter Fencing
• Each Unit has Central AC/Heating & W/D Hookups
Long Beach has emerged as a popular coastal community in Southern California. Located south of the city of Los Angeles, it has a population of about 471,000. Located near the 405 and 710 freeways, and with access to the Metro Blue Line train, Long Beach provides easy commutes to major employment hubs in Los Angeles and Orange County. Long Beach is also home to major businesses such as Verizon, Molina Healthcare, and the Port of Los Angeles.
Dozens of projects are transforming the city’s landscape, with more than $2.5 billion in capital pouring into Long Beach. These include the Douglas Park Redevelopment, a 261 acre mixed-use project on the site of the former Boeing campus. It will bring over 5,000 jobs to Long Beach and will be home to nearly 30 businesses such as Mercedes-Benz US West headquarters and Virgin Galactic.
For future listings:
•Contact [email protected] – (310) 990-9685