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$1,475,000
13 Days Online

2325 N Earl Avenue
Long Beach, CA 90806

For Sale|Multi-Family|Active
Subdivision:
null
County:
Los Angeles

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2325 N Earl Avenue2325 N Earl Avenue2325 N Earl Avenue2325 N Earl Avenue
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We are proud to offer a 5-unit apartment building in the Wrigley Area of Long Beach California. The subject property is located at 2325 Earl Avenue, just two blocks East of Pacific Avenue. and three blocks South of Willow Avenue. Located within close proximity to numerous forms of public transportation, a strong Walk Score of 86 indicating most errands can be accomplished by foot. This unit mix consists all two bedrooms/ one-bathroom units that offer a range of floor plans and square footages. Built in 1964, this property is a two-story garden style building with four enclosed garages in the rear. With approximately 4,666 rentable square feet, and a lot size of 5,325 sq. ft. the property is individually metered for gas and electricity. The income on the property has been very consistent with a sub 3% vacancy rate and very little to no turnover over the past 24 months. Rents have been averaging $1.84 sq.ft. over the past year, but with some interior improvements, and an upcoming vacancy, the rents can be over elevated to over $2 sq.ft. in todays rental market. With rents 15% below market, an investor looking to add value could dramatically improve their cash flow by upgrading the units, bumping rents up to market rate, activating the garages for additional income and thus making this acquisition a valuable addition to any investors portfolio. We are proud to offer a 5-unit apartment building in the Wrigley Area of Long Beach California. The subject property is located at 2325 Earl Avenue, just two blocks East of Pacific Avenue. and three blocks South of Willow Avenue. Located within close proximity to numerous forms of public transportation, a strong Walk Score of 86 indicating most errands can be accomplished by foot. This unit mix consists all two bedrooms/ one-bathroom units that offer a range of floor plans and square footages. Built in 1964, this property is a two-story garden style building with four enclosed garages in the rear. With approximately 4,666 rentable square feet, and a lot size of 5,325 sq. ft. the property is individually metered for gas and electricity. The income on the property has been very consistent with a sub 3% vacancy rate and very little to no turnover over the past 24 months. Rents have been averaging $1.84 sq.ft. over the past year, but with some interior improvements, and an upcoming vacancy, the rents can be over elevated to over $2 sq.ft. in todays rental market. With rents 15% below market, an investor looking to add value could dramatically improve their cash flow by upgrading the units, bumping rents up to market rate, activating the garages for additional income and thus making this acquisition a valuable addition to any investors portfolio.

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Listing Snapshot
Price
$1,475,000
Days Online
13 Days
Bedrooms
N/A
Inside Area (SqFt)
N/A
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.1222 Acres
Year Built
N/A
MLS Number
PW21037559
Status
Active
Property Tax
N/A
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
2 weeks agoListing updated with changes from the MLS
2 weeks agoListing first seen online
General Features
Terms
Exchange
Stories
2 Story
Interior Features
Cooling
N/K
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Exterior Features
Pool
N/K
Siding
Stucco
Community Features
Spa
N/K
Listing courtesy of Justin White

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Copyright © 2018-present San Diego MLS®.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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