627 Molino Avenue, Long Beach, CA 90814
Duplex · 2 recorded sales since 2017
Sold December 2017
Listing Agent: Nancy Deprez (DRE #01899929) · Listing Office: Century 21 Masters · Contact: 909-595-6697 · Bought with: Jack Tanner · Beach Cities Properties, Inc. · MLS #PW17159774 · Source: CRMLS
About this duplex
PRICE REDUCTION! Very unique and large 3 unit property in South Rose Park, south of 7th Street, just 1/2 mile to the beach! These 3 units consist of a total of 3887 square feet on a 6770 SF lot. The FRONT HOUSE is a 3 bedroom 2 bath refurbished Craftsman home (627 Molino). The BACK HOUSE (629 Molino) has 2 units: DOWNSTAIRS UNIT is a studio with one bedroom, one bath and an outdoor cooking area accessed by slider; UPSTAIRS UNIT is 3 bedroom, 3 bathroom with a large kitchen and living area with a large balcony, and each large bedroom has its own bathroom and walk-in closet. * Fully occupied * this triplex brings in total of $5,445/month currently with long term tenants that have been there for 13 years! $2350 from the front house (market value $2600) and $3095 from the 2 back units (market $4000) with long term tenants. Importantly, this property also has 2 2-car garages (4 garage spaces) plus 2 uncovered designated off-street parking spaces, 4 more parking spaces in front of each of the garage spaces for a total of 10 PARKING SPACES. There is a WASHER AND DRYER in each of the 2 garages. This is an excellent investment in a non-rent controlled city, and this property has never had a problem attracting great tenants. The property is well maintained and in a great neighborhood near shopping, transit, the ocean and beach, on route to Cal State Long Beach (just one bus ride). Also, you can rent out one of the garages for $200/month additional income.
Listing description from the December 2017 sale, as reported to CRMLS.
Sale history
