935 N Washington Place, Long Beach, CA 90813

About this property

10 Units in two buildings in dense rental market just North of Downtown Long Beach. Recently renovated property including exterior refresh, landscaping, lighting, and windows. 8 out of 10 units have been upgraded with vinyl plank floors, new cabinets, quartz countertops, and new bathrooms. Well priced on actual income at 14.38X gross with a 9% upside to a market GRM of 13.22. Great unit mix of five 2 Bed/1 Bath units, three 1 Bed/1 Bath units, and two studios. Three garages in front of the building with the potential for an ADU conversion. Community laundry room for extra income. Leased solar system on back building for electrical savings. Perfect 1031 exchange upleg property!

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

Sale history

$2,825,000

Sold June 2022 · listed $2,895,000, on market April 2022 · MLS #SB22082677 · Source: CRMLS

Listing Agent: Anthony Walker · Listing Office: Buckingham Investments, Inc · Contact: 310 982-7055 · Bought with: Mark Jensen · Nationwide Real Estate Execs

$2,070,000

Sold January 2019 · listed $2,100,000, on market August 2018 · MLS #OC18185754 · Source: CRMLS

Listing Agent: Nicole Fuentes · Listing Office: Keller Williams Realty · Contact: 562-626-8600 · Bought with: Anthony Walker · Buckingham Investments, Inc

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