Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Available, Water Connected
Address: 1640 Gundry Avenue
County: Los Angeles
City: Long Beach
Neighborhood: Signal Hill (sh), 8 - Signal Hill
Pool Features: None
Property Taxes: $0
Ideal investment property. Current cap rate of 5.75%. High cash flow and easy to manage. Four large 3 bedroom / one bath units. All rented at $2100 per month (last rent increase was December 2019), each unit with own single car garage, water heater and pays own utilities. Each unit has two separate entrances. Kitchen has room for dining table and chairs. New garage doors and stamped concrete backyard for easy, low cost maintenance. Landlord only pays for water/sewer. Very large units over 1,000 sf each. All new floors, and updated bathrooms and kitchens. Take advantage of low interest rates as this fourplex qualifies for residential 30 year financing. Can have additional income from renting out the garages. Two ADU's may be added for additional income opportunity (buyer to confirm).
Full rent collection throughout pandemic. Proforma rent in the $2250 to $2350 range plus potential income from garage rental and additional ADUs. Buyer to verify all information, not limited to unit counts and unit size and total sf. Interior viewing subject to accepted offer.
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