USACALong BeachEastside (Es)767 Freeman Ave
South Facing Unit!!! | Image 1
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$1,895,000

767 Freeman Ave, Long Beach, CA

Condo

For Sale

$--,---,---
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  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage Yes
HOA Fees 
Taxes 
Days Active 0
Approx. Age 1961
MLS® Number PW25182759

Property Address: 

Average square foot calculated using Size range provided by listing agent.

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 happy tenants. Private common back yard space. All units have been well maintained and upgraded, granite counters, low maintenance tile flooring and updated bathrooms. Very little deferred maintenance. Great location. Rose Park is right around the corner, walking distance to shops and restaurants on 4th Street, 7th Street and Redondo. Gross monthly income currently 13, 610 (163, 320 annual). GRM at list price is 11.6x. Cap rate with 35% expenses on gross annual rents is 5.6% and this is on actual rents! Reasonable proforma rents of 2, 250 with a garage and 2100 for a unit without garage yields 183, 600 gross revenue, 10.32X GM and 6.3% cap rate. Building has been professionally managed with great tenants. The building is the perfect combination of a quality area and cash flow.Show Description
MLS® NumberPW25182759
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelCommon Area
Exposure
Exterior
GarageYes
Approx. Age1961
Stories2
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatWall Furnace
A/CNone
Heating Fuel

Extras

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