1246 E 2ND ST $7,995,000

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    1246 E 2ND ST LONG BEACH, CA 90802

    • 24 Beds
    • 21 Baths
    • 14,293 sq. ft.
    • Multi-Family
    • MLS# 22-140533
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    Views: 66 Days On Site: 89

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    Property Details

    20 units located blocks from the Beach in Alamitos Beach in Long Beach. All units have been heavily updated including new kitchens, baths and windows. There is no work to be done. The property is professionally maintained and in excellent condition. There is some rental upside a new Owner can achieve by raising rents. The property features onsite laundry as well a 9 garages that can be rented for $150/month. There is currently an existing TD fixed at 3.3% (originated in 7/21) for 5 years with 3 years of I/O (runs through 7/24). The loan amount is $4.550.000 and has a 3% prepay until 7/23. Buyer to assume the existing TD or be responsible for the prepay. However, given today's interest rates, this is a better loan than available on the market. EMAIL LA1 FOR MORE INFO INCLUDING A RENT ROLL.

    Contact

    Gerard Bisignano

    Gerard Bisignano

    Global Real Estate Advisor

    DRE# 01116110

    Malaga

    Mobile Phone: 310-990-4727

    Neighborhood

    90802 (LONG BEACH) Demographics

    36 Median Age
    2,621 Population Density (per sq. mile)
    49% College Educated
    $60,939 Estimated Median Income
    4,148 Estimated Total Home Owners
    16,693 Estimated Total Renters
    20% / 80% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    39,165 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $547,362 Median Sales Price
    44 Homes Sold
    60 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $7,995,000
        3/28/2022 10:46:00 AM New in Database Source: Multiple Listing Service New Value: $7,995,000

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        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.


        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.