Description
A Rare find for investor. Seller may consider Seller Financing. High generating income property at approx $150,000 yearly. Property is offer over 7.30% cap rate which is rare in this market. Property consist of (1) commercial building and (5) one bedroom and one bath unit apartments. Tenants are long term and a few have lived on the premise for over 20yrs.The commercial Tailgate Bar has been in business for a very long time and is a local spot for the locals. Commercial Tenant is responsible for all utilities, repair and maintenance pertaining to interior and exterior of the building. Low management. Business is also for sale: Per tenant, gross over $500,000 yearly and sale price is $500K.The residential units have all been renovated with vinyl and tile flooring, all except one have new kitchen cabinets and quartz countertop and brand new vinyl, retrofit, dual glazed, low E windows. Building has also been freshly painted exterior. All great tenants and great relationship with Landlord. Landlord only pays water and landscaping. Low expenses. Residential address is 1709 W 25th Street, Long Beach, CA 90810.This property is self managed by owners with ease for over 10years with almost no vacancy in the last 10years. No shortage of renters for the area. Maybe eligible for SBA 7a Loan or SBA 504 loan with 10% down.
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0BEDS
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0.19ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
A Rare find for investor. Seller may consider Seller Financing. High generating income property at approx $150,000 yearly. Property is offer over 7.30% cap rate which is rare in this market. Property consist of (1) commercial building and (5) one bedroom and one bath unit apartments. Tenants are long term and a few have lived on the premise for over 20yrs.The commercial Tailgate Bar has been in business for a very long time and is a local spot for the locals. Commercial Tenant is responsible for all utilities, repair and maintenance pertaining to interior and exterior of the building. Low management. Business is also for sale: Per tenant, gross over $500,000 yearly and sale price is $500K.The residential units have all been renovated with vinyl and tile flooring, all except one have new kitchen cabinets and quartz countertop and brand new vinyl, retrofit, dual glazed, low E windows. Building has also been freshly painted exterior. All great tenants and great relationship with Landlord. Landlord only pays water and landscaping. Low expenses. Residential address is 1709 W 25th Street, Long Beach, CA 90810.This property is self managed by owners with ease for over 10years with almost no vacancy in the last 10years. No shortage of renters for the area. Maybe eligible for SBA 7a Loan or SBA 504 loan with 10% down.
Based on information from California Regional Multiple Listing Service, Inc. as of 2024-09-14T18:35:09.617. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Empire. Licensed in the State of California, USA.