tomo logo

$2,374,000

Beds
16
sq ft
6,240

1148 Stanley Ave, Long Beach, CA 90804

1148 Stanley Ave

Long Beach, CA 90804

  • 62 days on market
    • Price drop $1,000↓
PRICED TO SELL - 9.9X GRM AND 6.8% CAP AT MARKET RENTS. This is the building your client wants. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. Priced at 12.5 GRM and a 4.8% CAP with upside to a 6.8% CAP and under 10 GRM. Built in 1986 the property is professionally managed and well maintained. Copper Plumbing, Onsite Parking, this property has it all. All units are 2 bed/2bath and have updated kitchens, baths and flooring. 12 onsite parking for 8 units as well as onsite laundry. There is onsite laundry onsite. The electrical is Siemens - it's a 200 AMP main panel with 60 AMP subpanels (Buyer to verify). Email LA for more information including a current Rent Roll and actual expenses.

Details

Property type

Est. home value

$2,635,812

Lot size

6,627 sq ft

Price per sq ft

$381

Year built

1986

HOA

No

Price History

06/19/2024
CLAW

CLAW #24383887

Price change
$2,374,000
-0.04%
04/29/2024
CLAW

CLAW #24383887

Listed
$2,375,000
-5%
08/13/2021
CRMLS

CRMLS #PW21106140

Sold
$2,500,000

Schools & Community

Neighborhood: 

East Side

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Oneunited Bank

Loan start date

May 2021

Original loan amount

$1,825,000

Est. remaining balance

Not provided

Interest rate

3.13%

Loan type

Commercial, 30 year

Seller

1148 Stanley Ave Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 07/01/2024 at 9:20 AM

Listing updated: 06/19/2024 at 1:43 PM

Listed by: Jonathan Swire, The Agency Phone #: (424) 230-3700

MLS: CLAW #24383887

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