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New
1020 E 12th ST Long Beach, CA 90813
5,449 Sqft Lot
UPDATED:
01/27/2025 05:10 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 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 6.06% cap rate and 11.03 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.
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