tomo logo

$2,400,000

Beds
10
sq ft
6,365

219 W 9th St, Long Beach, CA 90813

219 W 9th St

Long Beach, CA 90813

  • 88 days on market
    • Price drop $275,000↓
219 W. 9th Street is an eight-unit apartment community located near Downtown Long Beach, operating at a 6.18% cap rate and 11.42 GRM . The property is comprised of three buildings on a 7,500 square foot lot.The property consists of five units constructed in 1983 and three original units built in 1929. 219 W. 9th Street has a varied unit mix of: two Junior 1BD/1BA, three 1BD/1BA, one 2BD/2BA, and two 3BD/1BA. Six of these units have been upgraded with high-end finishes, including in-unit washer/dryers, new cabinets, countertops, and dishwashers.The property completed several capital upgrades, including a new roof on the front building, partially updated electrical and plumbing systems, and new windows were installed in the renovated units.The asset boasts a total of 13 parking spaces, seven (7) garages and six (6) surface spaces. The garages may potentially be converted to ADUs for additional income.

Details

Property type

Est. home value

$2,231,549

Lot size

7,500 sq ft

Price per sq ft

$378

Year built

1929

HOA

No

Price History

10/15/2024
CLAW

CLAW #24444813

Price change
$2,400,000
-10.28%
09/01/2024
CLAW

CLAW #24444813

Listed
$2,675,000
02/17/2024
CRMLS

CRMLS #PW23011133

Removed
$2,675,000

Schools & Community

Neighborhood: 

Willmore City

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

Luther Burbank Savings

Loan start date

July 2022

Original loan amount

$1,564,500

Est. remaining balance

Not provided

Interest rate

4.12%

Loan type

Building or Construction Loan

Seller

219 9Th St 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: 12/22/2024 at 10:45 AM

Listing updated: 12/05/2024 at 2:37 PM

Listed by: Douglas Steinriede, Dover Management Corp. Phone #: (818) 843-5200

MLS: CLAW #24444813

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