Residential Income - 318 320 E Market Street, Long Beach, CA

$1,295,000

318 320 E Market Street, Long Beach, CA

318 320 E Market Street, Long Beach, CA 90805 - $1,295,000 · Multi-Family Home for Sale, photo 3

318 320 E Market Street, Long Beach, CA 90805 - $1,295,000 · Multi-Family Home for Sale, photo 4

318 320 E Market Street, Long Beach, CA 90805 - $1,295,000 · Multi-Family Home for Sale, photo 5

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Description

318-320 East Market Street is a turnkey 4-unit income property featuring 3 residential units and 1 commercial storefront. All 3 residential units will be delivered occupied with tenants paying at or above market rates. The commercial storefront will be delivered vacant so you can ask full market rent from your new tenant. At the list price, the property has outstanding fundamentals with a pro forma 5.3 CAP RATE and 12.8 GRM. To make this one even better, all units are in good marketable condition, with upgrades by the current owner including new 200 amp electrical panels; updated plumbing; updated sprinkler and irrigation, and updated interior finishes and design in the residential units. The seller is motivated. This is one you don't want to miss.

Property details

Year built

1940

Property type

Residential Income

Lot size

5,654 sqft

Location

318 320 E Market Street • Long Beach, CA 90805

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Listed by

Teresa Fuller · COMPASS

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