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$1,125,000

Est. payment - /mo

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2,212 Sqft Lot

Active Under Contract

1535 Termino AVE Long Beach, CA 90804

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Michael J. Lofton

citymikesd@gmail.com +1(619) 983-8805

UPDATED:

10/12/2024 10:06 PM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision Eastside (Es)

MLS Listing ID PW24202716

Condo Fees $780

HOA Fees $780/mo

HOA Y/N No

Year Built 1963

Lot Size 2,212 Sqft

Property Description

Great investment opportunity! Welcome to 1535 Termino Ave, "Coronado Building". The subject property consists of a 4 unit apartment building, approx. 3,537 square feet, comprised of (1) large townhouse style 2bd/2bth unit, and (3) 1bd/1bth units, and 4 single car garages. Located within the "Community Plaza", this community apartment complex features gated entry and parking, Pool, and outdoor community bbq. This community is super quiet, private and well maintained, attracting the best of tenants. Built in 1963, this all electric building is separately metered and offers an investor substantial upside in income. The 3 occupied units are all eligible for the maximum rent increase of 8.9%. And the one vacant unit provides an immediate opportunity to renovate and obtain market rent. The HOA dues are $780 per month and pay for the community expenses - landscaping, pool cleaning, common area utilities, mail room, gated entrance. In addition to the 4 single car garages, additional assigned surface parking spots are available (based on availability) for tenants for an additional fee. Located in a great area of Long Beach, just minutes from major freeways and Long Beach State. Don't miss out on this great investment opportunity!

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool Association, Community

Community Features Sidewalks, Pool

Total Parking Spaces 4

Private Pool No

Building

Lot Description Greenbelt, Landscaped, Paved

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7253013039

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

Listed by Spencer Pabst • Pabst, Kinney & Associates • 562-884-6875

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Michael J. Lofton

Broker | License ID: 01988777

+1(619) 983-8805

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