4831 Clark Ave, Long Beach, CA 90808

4831 Clark Ave, Long Beach, CA 90808

Long Beach, CA

Property Description

4831 Clark Ave is a 4-unit building that is situated on an 8,848 Square foot lot. The subject property is composed of (4) 1-bedroom and 1-bath units (built 1944). Each 1-bedroom unit is approximately 600 square feet. There are (5) single-car garages located in the back of the property. Ownership has made substantial improvements including new landscaping, vinyl fences, exterior paint and two units have been fully updated. Electrical, plumbing, and roof are in great working condition. Gas & Electric are individually metered paid by the tenants and the owner pays for water and trash. This asset presents a unique opportunity to purchase a 4-unit building with 15% potential upside in rents in a premier location of Long Beach. There is also an opportunity for an investor to build (2) ADU’s on the property to generate a significant amount of additional income.

Property Features

  • Sale Price: $1,350,000
  • Area Size: 2,320 Sq. Ft.
  • Land Area: 8,848 Sq. Ft.
  • Year Built: 1944
  • Listing Date: 11/02/2022
  • Closing Date: 12/28/2022
  • Units: 4
  • Current GRM: 16.26
  • Current Cap Rate: 4.20%
  • Price Per Unit: $325,000
  • Market GRM: 9.92
  • Market Cap Rate: 8.01%
  • Current NOI: $54,651

Lyon Stahl Investment Real Estate

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