CA > Long Beach > Downtown (Dt)
Long Beach, CA 90802,573 Nebraska
Long Beach, CA 90802,573 Nebraska
Long Beach, CA 90802,573 Nebraska
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$1,395,000
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7,387 Sqft Lot
Active Under Contract

573 Nebraska Long Beach, CA 90802

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Jerry And Rachel Team Hsieh

Jerry And Rachel Team Hsieh

+1(424) 242-8856

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Downtown (Dt)

MLS Listing ID SB25232214

HOA Y/N No

Year Built 1967

Lot Size 7,387 Sqft

Property Sub-Type Quadruplex

Property Description

Huge 1960's construction 4 unit in 5 blocks to the beach with all townhome style units. Extra large owner's unit currently configured as 2 beds and 2 baths, but originally 3 beds with primary suites. Three other large two story 2 bedroom units, one with 1 bath, and two with 2 baths. 2 out of 4 units recently remodeled with vinyl floors, new kitchens, and bathrooms. Large lot with 5 garages spaces plus extra square footage in the rear. Very attractive metrics at $291/square foot, 12.3X GRM on actuals with a significant 16% upside to 10.5X GRM and a market cap rate of 5.8%.

Ideal location in the heart of Alamitos Beach only 5 blocks to the sand. 3 blocks from Downtown Long Beach's East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average household income of $98,000+ (per CoStar research).

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Interior

Fireplace No

Laundry None

Exterior

Parking Features Garage Faces Front

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Suburban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Composition

Total Parking Spaces 5

Private Pool No

Building

Lot Description Rectangular Lot

Faces East

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7266016024

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

CRMLS – RECore
Listed by Anthony Walker Buckingham Investments, Inc 310-561-4776

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Jerry And Rachel Team Hsieh

Jerry And Rachel Team Hsieh

Owner/Director of Sales | License ID: 01701809

+1(424) 242-8856

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