405 E Esther Street, Long Beach, CA 90813
Property · 2 recorded sales since 2018
Sold February 2021
Listing Agent: Anthony Walker (DRE #01908153) · Listing Office: Buckingham Investments, Inc · Contact: 310 982-7055 · Bought with: John Alden · Alden Pacific Investments, Inc. · MLS #SB20183356 · Source: CRMLS
About this property
High yield 7-unit apartment building half a block to a blue line station and steps to numerous new developments. Great unit mix of one 6 Bed/2 Bath unit, three 3 Bed/1 Bath units, one 2 Bed/1 Bath units, one 1 Bed/1 Bath, and one studio. Exterior refresh just completed and 5 out of 7 units remodeled. Super strong income at 12.59X gross on actuals with a 6% upside to market GRM of 11.81X and a 5.5% market cap rate. Qualifies for 75% LTV financing at historically low interest rates. Off-street parking for 4-5 cars. Just North of Downtown Long Beach. Blue lines serves both Downtown Los Angeles and Long Beach. Blocks away from elementary, middle, and high schools.
Listing description from the February 2021 sale, as reported to CRMLS.
Sale history
