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Listed by William Mulkey, DRE #00986020 • TR Wealth Management Inc.
$925,000
Est. payment /mo
5,386 Sqft Lot
Price Dropped by $74K
2310 Elm Long Beach, CA 90806
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26120106
Year Built 1921
Lot Size 5,386 Sqft
Property Sub-Type Triplex
Source California Regional MLS
Property Description
PRICE REDUCED SIGNIFICANTLY TO SELL. *6.5 CAP RATE AND MAREKT CAP RATE OF 7.4 CAP RATE! For the owner-user, this is a rare live-and-earn opportunity. Occupy one of the units and let the other two work for you - tenant rents offset a substantial portion of your monthly carrying costs, making homeownership in Long Beach dramatically more attainable while you build equity in a cash-flowing asset. FHA and low-down owner-occupant financing options may apply. This exceptional triplex features a detached (3) bedroom 1 bath home, and a duplex with (2) 1 bedroom 1 bath units located in the rear. This unit mix delivers strong in-place income of $6,865/month with clear upside through market rent increases. Interiors have been updated with fresh finishes and systems and recent capital improvements remodels, roof work, and exterior paint - substantially reducing near-term maintenance obligations for a new owner. For the investor, this property generates immediate cash flow from day one. With a 30% down conventional loan, you step into positive cash flow at current rents with strong long-term appreciation potential and multiple built-in avenues to grow income over time. In addition, ADU permits can bee pursued to convert existing garages into more units (buyer to verify) offering an
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Heating Wall Furnace
Laundry Laundry Area, Other
Exterior
Garage Spaces 5.0
Pool None
Roof Type Shingle
Building
Water District - Public
Others
Tax ID 7208016022
Special Listing Condition Not Applicable
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