318 320 E Market ST, Long Beach, CA 90805
318 320 E Market ST, Long Beach, CA 90805
318 320 E Market ST, Long Beach, CA 90805
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$1,295,000
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5,654 Sqft Lot
Price Dropped by $74K

318 320 E Market ST Long Beach, CA 90805

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Rick Lee

Rick Lee

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

MLS Listing ID P1-28074

HOA Y/N No

Year Built 1940

Lot Size 5,654 Sqft

Property Description

318-320 East Market Street is a turnkey 4-unit income property featuring 3 residential units and 1 commercial storefront. All 3 residential units will be delivered occupied with tenants paying at or above market rates. The commercial storefront will be delivered vacant so you can ask full market rent from your new tenant. At the list price, the property has outstanding fundamentals with a pro forma 5.3 CAP RATE and 12.8 GRM. To make this one even better, all units are in good marketable condition, with upgrades by the current owner including new 200 amp electrical panels; updated plumbing; updated sprinkler and irrigation, and updated interior finishes and design in the residential units. The seller is motivated. This is one you don't want to miss.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Zoning LBCMR

Interior

Cooling None

Fireplaces Type None

Fireplace No

Appliance Water Heater

Laundry Inside

Exterior

Parking Features Driveway

Pool None

Community Features Street Lights, Sidewalks

View Y/N No

View None

Total Parking Spaces 2

Private Pool No

Building

Story Two

Entry Level Two

Level or Stories Two

Others

Senior Community No

Tax ID 7131004004

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Teresa Fuller COMPASS #01315387
NEARBY SCHOOL & BUSINESS
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