2820 E 70th St, Long Beach, CA 90805

2820 E 70th St, Long Beach, CA 90805

Long Beach, CA

Property Description

Lyon|Stahl is pleased to present 2820 E 70th St in Long Beach. 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.

<strong>Investment Highlights: </strong>
• Unit Mix: (1) 3-Bed/2-Bath&amp; (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 &amp; 16.65 GRM
• Market 5.05% CAP &amp; 14.21 GRM
• Each Unit Has Its Own Floor &amp; Water Heater
• Separately Metered for Gas &amp; Electric
• Recently Installed Perimeter Fencing
• Each Unit has Central AC/Heating &amp; W/D Hookups

Property Features

  • Sale Price: $835,000
  • Year Built: 1970
  • Closing Date: 9/12/19
  • Units: 2
  • Current GRM: 16.65
  • Current Cap Rate: 4.05%
  • Price Per Unit: $447,500
  • Market GRM: 14.21
  • Market Cap Rate: 5.05%

Lyon Stahl Investment Real Estate

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