A Rare find for investor. High generating income property at approx $150,000 yearly. Property is offer at 6.24% cap rate. Property consist of (1) commercial building and (5) one bedroom and one bath unit apartments. Tenants are long term and a few have lived on the premise for over 20yrs.The commercial Tailgate Bar has been in business for a very long time and is a local spot for the locals. Commercial Tenant is responsible for all utilities, repair and maintenance pertaining to interior and exterior of the building. Low management. Business is also for sale: Per tenant, gross over $500,000 yearly and sale price is $500K.The residential units have all been renovated with vinyl and tile flooring, all except one have new kitchen cabinets and quartz countertop and brand new vinyl, retrofit, dual glazed, low E windows. Building has also been freshly painted exterior. All great tenants and great relationship with Landlord. Landlord only pays water and landscaping. Low expenses. Residential address is 1709 W 25th Street, Long Beach, CA 90810.This property is self managed by owners with ease for over 10years with almost no vacancy in the last 10years. No shortage of renters for the area. Maybe eligible for SBA 7a Loan or SBA 504 loan with 10% down.
PW24077954
Mixed Use, Business Opportunities, 1 Story
Los Angeles
1961
0.1948
Acres
Public
1
3,265
Sq. Ft.
Electricity Available,Natural Gas Available,Phone Connected,Water Available
3 Total
Detailed Room Information
- Laundry
- None
Interior Features
- Cooling
- Window/Wall Unit
- Heating
- Other. Wall Furnace.
Exterior / Lot Features
- Parking
- 0 Covered Parking Spaces.
- Additional Exterior/Lot Features
- Corner Lot,Near Public Transit.
Financial Considerations
7402004026
$7,187
Cash, Cash to New Loan, Conventional, 1031 Exchange
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