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$1,100,000
Est. payment /mo
2,465 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Belmont Heights (Bh)
MLS Listing ID PW26215302
HOA Y/N No
Year Built 1930
Lot Size 2,465 Sqft
Property Sub-Type Mixed Use
Property Description
3514 E. 4th Street is a charming four-unit multifamily property ideally positioned along Long Beach's highly desirable 4th Street / Retro Row corridor. Built in 1930, the property offers distinctive vintage character and consists of four oversized 1BD/1BA units averaging approximately 712 square feet. The property is offered at $1,100,000, equating to an attractive $275,000 per unit, with a current 5.52% cap rate. The asset benefits from strong in-place rents and a stable renter profile, providing immediate cash flow with limited reliance on future rent growth. Current rents average approximately $1,833 per unit, compared with an average of $1,915 among the selected rent comparables. With three of the four units already achieving $1,845 per month, the property offers an established income stream while retaining modest additional rental upside. Located east of Redondo Avenue in the heart of the 4th Street / Retro Row area, 3514 E. 4th Street offers residents walkable access to an extensive collection of restaurants, shops, and neighborhood amenities. The combination of a highly desirable Long Beach location, oversized units, strong existing rents and a sub-$300,000- per-unit basis presents a compelling opportunity to acquire a well- positioned four-unit asset in one of the city's most established rental markets.
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Interior
Fireplace No
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7257016002
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379
NEARBY SCHOOL & BUSINESS
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