1034 Newport Avenue, Long Beach, CA 90804
Fourplex · 2 recorded sales since 2017
Sold March 2025
Listing Agent: Brian Estes (DRE #01394559) · Listing Office: Re/Max Commercial & Investment · Contact: 310-963-2894 · Bought with: Erik Ransdell · Erik Michael Ransdell, Broker · MLS #SB24243567 · Source: CRMLS
About this fourplex
4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and the entire property is gated and fully secured. The property currently grosses approx $113,700 per year and is priced attractively at a real 4.31% CAP (actual) and a 14.73 GRM. At market rents the property is a 12.50 GRM and 5.45% CAP. Approx 18% upside in current rents.
Listing description from the March 2025 sale, as reported to CRMLS.
Sale history
