1710 E 4th Street, Long Beach, CA 90802

1710 E 4th Street, Long Beach, CA 90802

Long Beach, CA

Property Description

1710 E 4th Street is a 4-unit building that is situated on a 5,563 Square foot lot. The subject property is composed of (1) 2 bedroom and 1 bath house (built 1923), (2) 1 bedroom and 1 bath units (built 1953), (1) studio attached to the front house, and (1) 1 bedroom and 1 bath non conforming ADU. Each 1 bedroom unit is approximately 600 square feet each, the front house is about 1,000 square feet, and the studio is about 300 square feet. There are (2) double garages below the 1 bedroom units. Gas & electric are individually metered paid by the tenants and the owner pays for water and trash. Value Add Opportunity Along with the 15% potential upside in rents, one of the two car garages in the back has been converted into a 1-bed/1-bath unit. It has electrical, plumbing, bedroom, bathroom, shower, and a kitchen. This converted unit is currently not being rented. The studio can also be converted into a 1-bed/1-bath unit. The on-site coin laundry room is currently inside a bedroom once connected to the studio, but is now closed off. If both units are legally converted they will add about $2,000/month in additional income.

Property Features

  • Sale Price: $1,380,000
  • Area Size: 5,563 SF
  • Listing Date: February 21, 2022
  • Closing Date: 5/20/2022
  • Units: 4
  • Current GRM: 16.55
  • Current Cap Rate: 4.00%

Lyon Stahl Investment Real Estate

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