1377 Warren Ave, Long Beach, CA 90813
- $1,615,000
- 4
- BD
- 11
- BA
- 4,944
- SqFt
- List Price
- $1,615,000
- Price Change
- ▼ $12,000 1783990609
- MLS#
- 26640863
- Year Built
- 1922
- Bedrooms
- 4
- Bathrooms
- 11
- Living Sq. Ft
- 4,944
- Lot Size
- 5,700
- Days on Market
- 187
- Property Type
- Multifamily
- Stories
- 2
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
- Other Buildings
- None
- Heat
- Wall
- Cooling
- None
- Number of Cars in Garage
- None
Mortgage Calculator
Courtesy of The Agency, Jonathan Swire - CA DRE#01336277
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