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Kathy Fissori Johnson

results@fissorirealestate.com +1(805) 540-4866

$ 2,150,000

Est. payment -/mo

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5290 E Division ST Long Beach, CA 90803

3,484 Sqft Lot

UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Belmont Shore (Bsd)

MLS Listing ID PW25090414

HOA Y/N No

Year Built 1952

Lot Size 3,484 Sqft

Property Sub-Type Apartment

Property Description

Income and expense are using projected market rents and put property operating at projected 5.48% Cap and 12.4X Gross (Estimated current 4.34% and 14.4X). Located in the affluent community of Belmont Shore, a Southern California beach community and “college town” being just a few minutes from CSU Long Beach. Both buildings (also for sale with 102 Argonne 10U for $2,750,000) are meticulously cared for, and both have been upgraded with copper plumbing, electrical breakers, and most unit interiors have been upgraded. The investment provides the opportunity to increase your return by increasing the rents to market and separate metering the building utilities, therefore, providing immediate lower overhead/increased cash flow and continued added value in the future with rising utility costs being transferred to the tenants. Laundry is leased and managed by a 3rd party offering further income upside by canceling the contract and installing your own machines. Some units may be rented at amounts different than current income rent roll. Insurance rates may not be current rate for new owner, so buyer must get own insurance quotes including flood insurance if needed. Street parking only.

Location

State CA

County Los Angeles

Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr

Zoning LBR2S

Interior

Cooling None

Fireplace No

Laundry Common Area

Exterior

Parking Features None

Pool None

Community Features Sidewalks

Private Pool No

Building

Lot Description Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7247011015

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by AJ Nay • AJ Nay, Broker • 305-433-3300

Kathy Fissori Johnson

Realtor | License ID: #01403817

+1(805) 540-4866

Kathy Fissori Johnson

5290 E Division ST Long Beach, CA 90803

Key Details

Location

Interior

Exterior

Building

Others

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5290 E Division ST