1377 Warren Avenue, Long Beach, CA 90813
- $1,615,000
- 4
- BD
- 11
- BA
- 4,944
- SqFt
- List Price
- $1,615,000
- Price Change
- ▼ $12,000 1783991275
- Status
- ACTIVE
- MLS#
- 26640863
- Year Built
- 1922
- Bedrooms
- 4
- Bathrooms
- 11
- Living Sq. Ft
- 4,944
- Lot Size
- 5,700
- Acres
- 0.13
- Days on Market
- 188
- Property Type
- Multifamily
- Stories
- Multi Level
Property Description
CHEAPEST PRICED LISTING IN ALL OF LONG BEACH. PRICED TO SELL. 8.4 GRM AND 7.2% CAP WITH UPSIDE TO A 8.0 GRM AND 7.7% CAP. 11 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (you can increase 8.7% this year). The property is professionally managed and well-maintained. The property is MASTER METERED for all utilities and as such, there is an opportunity for a new owner to either implement a RUBS program or increase rents to cover these costs. Electrical updated in the past 3 years. Qualified Buyers can put as little as 25% down and earn over a 12% cash on cash return against in-place rents. Excellent lender financing available at 5.4% fixed for 5 years - for qualified Buyers. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Qualified Buyers can put down as little as 25% with excellent bank financing. Additionally, the Long Beach airport is undergoing a $37MM renovation for the upcoming 2028 Olympic Games.
Additional Information
- Heat
- Wall Furnace
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 11
Listing courtesy of Listing Agent: Jonathan Swire (jon@jonswire.com) from Listing Office: The Agency.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.