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$ 2,400,000
Est. payment | /mo
0.3 Acres Lot
$ 2,400,000
Est. payment | /mo
0.3 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25047462
HOA Y/N No
Year Built 1930
Lot Size 0.300 Acres
Property Sub-Type Mixed Use
Property Description
Exciting opportunity to acquire two contiguous multifamily investment properties in Long Beach, California. This offering comprises 1415 Martin Luther King Jr. Avenue, a 1961 construction fourplex with all two-bed/one-bath units, and the adjacent 1425 Martin Luther King Jr. Avenue, a six-unit property consisting of a front duplex with a three-bed/two-bath unit and a one-bed/one-bath unit, as well as a rear fourplex with all two-bed/one-bath units. The property also offers on-site laundry and ample surface parking.
The property is located in Long Beach's Poly High neighborhood within easy walking distance of grocery stores and other amenities.
Current rents offer a new investor 15 percent potential upside, and there may be potential to develop ADU's in the large parking lot of 1415 Martin Luther King Jr. Ave (buyer to verify).
The property is located in Long Beach's Poly High neighborhood within easy walking distance of grocery stores and other amenities.
Current rents offer a new investor 15 percent potential upside, and there may be potential to develop ADU's in the large parking lot of 1415 Martin Luther King Jr. Ave (buyer to verify).
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR1N
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Urban
Total Parking Spaces 10
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7268013016
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker • steve.bogoyevac@marcusmillichap.com
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Christina & Andre DiMarzo
Broker Associate | Lic# 01398838