2626 E Anaheim new Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90804
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,644 sqft
Price per Sqft $465
MLS Listing ID CRPW25233825
HOA Y/N No
Year Built 1936
Lot Size 5,852 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
Price Reduction! Fully Renovated 6-unit building cash flowing at an amazing Current Cap Rate of 5.4% from day 1! Preliminary plans to add 5 ADUs to achieve an incredible 9% Cap Rate, 8.4 GRM, and only 203k/unit after taking into account all the construction costs (~546k assuming $200/SF). Attractive unit mix consisting of (4) well-designed One-Bedroom | One-Bathroom residential units plus (2) well-established commercial tenants (mini-market & flower-shop) both of which have been at this location for many years and have expressed interest for continued tenancy for years to come. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. Large lot with 7 parking spaces in the back with future development & ADU potential. The property has seen a complete restoration, down to every inch. Overall systems were updated with new copper plumbing in units, new electrical sub-panels in units, new HVAC systems, new water heaters, and brand-new windows in each unit. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets and modern countertops. The bathrooms boast new vanities and modern
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry See Remarks
Building
Lot Description Other