2503 Santa Fe Avenue
Long Beach, CA 90810
0.19 acres | #PW24077954
Description
A Rare find for investor. Seller may consider Seller Financing.
High generating income property at approx $150,000 yearly. Property is offer over 7.30% cap rate which is rare in this market.
Property consist of (1) commercial building and (5) one bedroom and one bath unit apartments. Tenants are long term and a few have lived on the premise for over 20yrs.
The commercial Tailgate Bar has been in business for a very long time and is a local spot for the locals. Commercial Tenant is responsible for all utilities, repair and maintenance pertaining to interior and exterior of the building. Low management. Business is also for sale: Per tenant, gross over $500,000 yearly and sale price is $500K.
The residential units have all been renovated with vinyl and tile flooring, all except one have new kitchen cabinets and quartz countertop and brand new vinyl, retrofit, dual glazed, low E windows. Building has also been freshly painted exterior. All great tenants and great relationship with Landlord. Landlord only pays water and landscaping. Low expenses. Residential address is 1709 W 25th Street, Long Beach, CA 90810.
This property is self managed by owners with ease for over 10years with almost no vacancy in the last 10years. No shortage of renters for the area. Maybe eligible for SBA 7a Loan or SBA 504 loan with 10% down.
Property Details
- Lot DescriptionCornerLot, NearPublicTransit
- Stories1
Measurements
- Acres0.1948
Construction Details
- Property TypePurchase
Condition
- Year Built1961
Utilities / Energy Details
- Utility FeaturesElectricityAvailable, NaturalGasAvailable, PhoneConnected, WaterAvailable
- Utility SourcePublic
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$1,899,000
- Taxes Annual$7,187
Other
- MLS #PW24077954
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Jocelyn Thav (#PTHAVJOC)
Listing Office: Jocelyn Thav, Broker (#PB21393)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
