2311 E 11th Street, Long Beach, CA 90804

About this property

2311 E 11th St is a rare opportunity to acquire 4 Units & an ADU collecting an additional $1,590 per month. The property will be financed residentially. This building is located between Downtown Long Beach and the Traffic Circle Area, less than 1.5 Miles to the Pacific Ocean, where long term rental demand is high. The property offers strong in place rents, trading at a CAP rate of 4.86% and GRM of 13.49. Four of five tenants are Section 8, offering secured income. The ADU has recently been completely remodeled. Rental increases to take effect in January and March. Bathroom remodel completed on one other unit. ADU permit to be transferred to new owner through escrow. See offering memorandum in supplements for additional details.

Listing description from the June 2022 sale, as reported to CRMLS.

Sale history

$1,275,000

Sold June 2022 · on market November 2021 · MLS #SB21256201 · Source: CRMLS

Listing Agent: Derek Branch · Listing Office: Alden Pacific Investments, Inc. · Contact: 310-399-0039 · Bought with: Matthew Drenner · Real Estate Establishment Inc.

$925,000

Sold April 2019 · listed $989,000, on market October 2018 · MLS #PW18262399 · Source: CRMLS

Listing Agent: Charles Brewer · Listing Office: Home Smart Realty Group · Contact: 562-912-7770 · Bought with: Josh Ess · Buckingham Investments, Inc

$675,000

Sold February 2018 · listed $679,900, on market November 2017 · MLS #PW17264106 · Source: CRMLS

Listing Agent: Vee Vinhnee · Listing Office: Main Street Realtors · Contact: 562-438-0910 · Bought with: Charles Brewer · Home Smart Realty Group

$365,000

Sold February 2013 · listed $360,000, orig. $350,000, on market November 2012 · MLS #R1205871 · Source: CRMLS

Listing Agent: Mark Anthony Ruiz · Listing Office: C-21 Astro · Contact: 562-924-3381 · Bought with: Carol Rayburn · C-21 Astro

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