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7 38th Place, Long Beach, CA 90803

$2,150,000

Description

Desirable Long Beach location, Perfect for an owner user or as an investment opportunity.
Current Owner occupies the bottom unit and currently renting the top unit as vacation rental bringing in over $6500 per month. The property is advertised at $500 per night through various vacation rental sites. Seller is extremely motivated to get this property sold.

  • (2) 2 Bed / 1 Bath Units
  • 3 lots away from the sand
  • Walking distance to 2nd street shops / restaurants
  • Private street with no city street sweeping
  • 5 garages with 5 additional parking spots
  • Ocean view unit rents for up to $6500/month
  • Large patio deck for entertaining
  • New outdoor paint
  • Each unit has extra space for an office or additional bedroom

Address

  • City: Long Beach
  • State/county: CA
  • Country: United States

Detail

Updated on August 28, 2018 at 4:04 pm

  • Price: $2,150,000
  • List Date: 8/16/18
  • Property Size: 3,356 Sq ft
  • Land Area: 6,799 Sq ft
  • Year Built: 1940
  • Property Type: Duplex
  • Property Status: Active
  • Numbers of Units: 2
  • NOI: $40,440
  • GRM: 25.64
  • CAP RATE: 2.02%
  • Price per Unit: $1,000,000
  • Market GRM: 12.82
  • Market CAP RATE: 5.73%

Contact info

Jim Zambarelli
Jim Zambarelli
(310) 990-3417
Linkedin

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