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$ 1,725,000
Est. payment /mo
Price Dropped by $125K
1020 E 12th ST Long Beach, CA 90813
5,449 Sqft Lot
UPDATED:
02/27/2025 10:04 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25017558
HOA Y/N No
Year Built 1960
Lot Size 5,449 Sqft
Property Sub-Type Apartment
Property Description
1020 E 12th St, Long Beach is the ideal investment
opportunity for anyone looking for great cash-flow
and low maintenance/renovated - the property is
currently operating at 6.78% cap rate and 10.28 GRM.
All units are renovated with new floors, cabinets,
appliances, fixtures and windows. All units are renting
at or near market rents.
The subject property is comprised of (8) 1Bed+1Bath
units, 5 of which are rented to Sec. 8/A.F.H. -
guaranteed income! 1020 E 12th St has plenty of
parking, which collects $400/month in additional
income. There is also a laundry room on site that
collects income.
Beneficial for the new owner, the property is located
just outside the $6 Billion of new development flooding
into Downtown Long Beach, including the Long Beach
Civic Center, Aquarium, OceanAire Project, CSULB
Downtown Village, Broadway Block and Queen Mary
Island. OM in supplements.
opportunity for anyone looking for great cash-flow
and low maintenance/renovated - the property is
currently operating at 6.78% cap rate and 10.28 GRM.
All units are renovated with new floors, cabinets,
appliances, fixtures and windows. All units are renting
at or near market rents.
The subject property is comprised of (8) 1Bed+1Bath
units, 5 of which are rented to Sec. 8/A.F.H. -
guaranteed income! 1020 E 12th St has plenty of
parking, which collects $400/month in additional
income. There is also a laundry room on site that
collects income.
Beneficial for the new owner, the property is located
just outside the $6 Billion of new development flooding
into Downtown Long Beach, including the Long Beach
Civic Center, Aquarium, OceanAire Project, CSULB
Downtown Village, Broadway Block and Queen Mary
Island. OM in supplements.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LBR4R
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7274007003
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, Contract, 1031 Exchange
Special Listing Condition Standard
Lease Land No
Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556