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USACALong BeachOther (Othr)1030 Myrtle Ave
1030 Myrtle Ave, Home with 0 bedrooms, 0 bathrooms and 14 parking in Long Beach CA | Image 1
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$1,550,000

1030 Myrtle Ave, Long Beach, CA

Real Estate

For Sale

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  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size -
Garage Yes
Taxes 
Days Active 107
Lot Size 
Approx. Age 2005
MLS® Number SB25042498

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

2005 construction and just outside of downtown Long Beach, this quadruplex has three large 3 bedroom 1 bathroom apartments, and one 1 bedroom 1 bathroom apartment. The strong income in place has this building at a GRM of 13.3X and a cap rate of 4.2%, and there is approximately 15% upside in the rents. The building features onsite laundry in select units, a large 2 car garage for each unit with extra parking on the driveway, and is separately metered for gas and electricity. There is a path to substantial upside via the conversion of some of the 8 garage spots to ADUs, as well as offsetting some of the expenses through the use of RUBS. The building is just 3 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion. It offers excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Over 60% of households within 5 miles are renters with an average household income of over $94, 000. (Per Costar)Show Description
MLS® NumberSB25042498
Laundry LevelWasher Hookup, Gas Dryer Hookup
Central VacNo
FireplaceNo
Acreage0.15
Exterior
GarageYes
Approx. Age2005
Basement
DrivewayGarage
Garage Spaces
HeatWall Furnace
A/CNone
Heating Fuel

Extras

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