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Listing Details

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On Site
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School Ratings & Info

Description

There are a ton of great income properties out there, but the income of 126 E. Eagle soars high above the rest. This 4-unit building has one of the highest income potentials of any small apartment building on the market, generating over $115,000 annually . The property has a great unit composition of four 3 Bedroom / 1 Bathroom units, each with over 1,000 SF. Eliminate the stress of whether the tenants are going to pay their rent, as these rents are guaranteed by the Housing Authority of Long Beach, who routinely inspects to ensure the property is being cared for.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-20T00:25:39.083. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brandon Hobbs Group | Compass. Licensed in the State of California, USA.
www.searchwithcompass.com/homes/119421094
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164 E Eagle Street , 1-4 Long Beach, CA 90806

  • Price: $1,600,000
  • Status: Active
  • Updated: 63 min ago
  • ID#: PW21155480
0
Beds
0
Baths
0
½ Baths
0.09
Acres
1905
Built
Neighborhood:
Wrigley Area (Wr)
County:
Los Angeles
Area:
5 - Wrigley Area
Property Description
There are a ton of great income properties out there, but the income of 126 E. Eagle soars high above the rest. This 4-unit building has one of the highest income potentials of any small apartment building on the market, generating over $115,000 annually . The property has a great unit composition of four 3 Bedroom / 1 Bathroom units, each with over 1,000 SF. Eliminate the stress of whether the tenants are going to pay their rent, as these rents are guaranteed by the Housing Authority of Long Beach, who routinely inspects to ensure the property is being cared for.
Exterior Features

Lot Features 0-1 Unit/AcreNear ParkRectangular Lot Number Of Separate Electric Meters 4 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Shingle Spa Features None Spa YN No

Interior Features

Common Walls 2+ Common Walls Fireplace Features None Fireplace YN No

Property Features

Additional Parcels YN No Cap Rate 5.15 Common Interest None Community Features BikingCurbsRuralStorm Drain(S)Street LightsSidewalksUrbanPark Contingency Buyer To Cooperate With Sellers 1031-Exchange. Drive-By Only. Please Do Not Disturb The Tenants. Electric Standard Garage YN No Gross Income 117600 Gross Scheduled Income 117600 Insurance Expense 2400 Land Lease YN No Laundry Features Common AreaInside Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional1031 ExchangeVa Loan Maintenance Expense 2400 Net Operating Income 88200 New Construction YN No New Taxes Expense 20000 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 35280 Other Expense 224 Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 117600 Trash Expense 1200 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedUnderground Utilities Water Sewer Expense 1500 Water Source Public Zoning Lbr2n

Listing provided courtesy of Juan Huizar of Sage Real Estate and Caleb Baldwin of Sage Real Estate


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-20T00:25:39.083. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brandon Hobbs Group | Compass. Licensed in the State of California, USA.
 
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Brandon Hobbs Group | Compass
341 Bayside Drive
Newport Beach CA, 92660