30
See all 30 photos
$1,100,000
Est. payment /mo
8 Beds
4 Baths
5,857 Sqft Lot
New
92 E Louise Long Beach, CA 90805
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID PW26180123
Bedrooms 8
Lot Size 5,857 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
92 E. Louise Street presents the opportunity to acquire a well- maintained four-unit multifamily property offering strong in-place cash flow, meaningful rental upside, and additional long-term value creation potential in North Long Beach. Built in 1953, the property consists entirely of two-bedroom/one- bath units, each approximately 740 square feet, providing a highly desirable and consistent unit mix with broad renter appeal. Current rents average approximately $2,138 per month, compared with nearby rent comparables averaging approximately $2,538 per month, demonstrating substantial embedded rental upside. The property has also benefited from several significant capital improvements, including new windows throughout the building, recent re-piping, exterior painting within the past three years, and a new electronic security gate. These improvements reduce near- term capital expenditure exposure while enhancing the property's overall functionality and tenant appeal. The property's four detached garages and additional surface spaces present the opportunity to add immediate income through parking fees or convert garages to ADUs for future additional rental income (buyer to verify).The offering compares favorably with recent four-unit sales in the surrounding market. At $275, 000 per unit, 92 E. Louise is priced below the comparable-set average of approximately $306,750 per unit, while offering a substantially stronger going-in yield than the comparable average cap rate of approximately 5.32% For investors seeking strong current yield with identifiable upside, 92 E. Louise Str
Location
State CA
County Los Angeles
Zoning Assessor
Direction Off Atlantic Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7126029010
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Robert Stepp, DRE#01456379 Keller Williams Realty Downey
Nearby School & Business
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