751 Saint Louis Ave, Long Beach, CA, 90804

751 Saint Louis Ave, Long Beach, CA, 90804

Long Beach, CA
$ 1,125,000

Property Description

ADU potential! Value-add 4plex located in desirable Rose Park. Ideal location being only a few blocks away from Long Beach’s “Retro Row,” full of coffee shops, storefronts, restaurants and more! Great owner/user potential with the remaining units paying the mortgage! Plenty of Parking available on-site with (3) single car garages, as well as additional spaces along the driveway. The Saint Louis complex has two separate buildings, comprised of (2) 2-Bd/1-Ba & (2) 1-Bd/1-Ba units. All units feature washer/dryer hookups in unit! The building has undergone a full copper repipe and has recent roof renovations. Separately metered for gas and electricity. There is potential to convert the garages into an ADU for additional $1,600 per month!

Property Features

  • Sale Price: $ 1,125,000
  • Area Size: 2,392 Sq. Ft.
  • Land Area: 6,727 Sq. Ft.
  • Year Built: 1923
  • Listing Date: 10/11/2022
  • Closing Date: 11/30/2022
  • Units: 4
  • Current GRM: 16.65
  • Current Cap Rate: 4.00%
  • Price Per Unit: $281,250
  • Market GRM: 9.48
  • Market Cap Rate: 8.41%
  • Current NOI: $44,984

Lyon Stahl Investment Real Estate

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