CA > Long Beach > Eastside (Es)
Long Beach, CA 90804,767 Freeman AVE
Long Beach, CA 90804,767 Freeman AVE
Long Beach, CA 90804,767 Freeman AVE
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$1,895,000
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6,751 Sqft Lot
Pending

767 Freeman AVE Long Beach, CA 90804

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Patrick Fossati

Patrick Fossati

+1(805) 910-0463

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

Subdivision Eastside (Es)

MLS Listing ID PW25182759

HOA Y/N No

Year Built 1961

Lot Size 6,751 Sqft

Property Sub-Type Apartment

Property Description

Excellent cash flow building in prime Eastside Long Beach area. 7 units total, four garages with 4 parking spaces in front of garage. All unit doors face south for lots of natural light and share common back yard space for happy tenants. Common area laundry room for convenience. All units have been well maintained and upgraded, granite counters, low maintenance tile flooring and updated bathrooms. Very little deferred maintenance. All 7 unit electrical subpanels upgraded in 2024. Great location. Rose Park is right around the corner, walking distance to shops and restaurants on 4th Street, 7th Street and Redondo. Current monthly income 13,935 (167,220 annual). GRM is 11.3x. Cap rate with 35% expenses is 5.7%. Market rents are 2,250 with garage and 2050 without. Building has been professionally managed with great tenants. The building is the perfect combination of a quality and cash flow. Units show very well as they are upgraded upon vacancy. This is an easy building to own and manage with additional upside.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Interior

Heating Wall Furnace

Cooling None

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Street Lights, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Total Parking Spaces 4

Private Pool No

Building

Lot Description Back Yard

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7258019020

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

CRMLS – RECore
Listed by John Dumke John Dumke, Broker 562-572-2296

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Patrick Fossati

Patrick Fossati

Broker Associate | License ID: 01907255

+1(805) 910-0463

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