1034 Newport Avenue, Long Beach CA, 90804

Active

1034 Newport Avenue

Long Beach CA, 90804

$1,675,000

$401.68 per sqft

Active

4,170 sqft

Multi-family

Built in 1972

Listed by Brian Estes with Re/Max Commercial & Investment 310-963-2894

4 units in a great LB location with a 91 Walk Score, nearby shopping, dining, Rec Park and more. Attractive unit mix: 1-3BR/2BA (single story), 2-2BR/2BA (2 story townhouses) and 1-2BR/1BA (2 story townhouse). Most units remodeled with new floors, all units are spacious and with well appointed floorplans. All units have a separate water heater and all electric building. Ample parking:(3) single car garages and (1) two car garage. Garages had a brand new roof last year. Onsite laundry facility and the entire property is gated and fully secured.

The property currently grosses approx $113,700 per year and is priced attractively at a real 4.31% CAP (actual) and a 14.73 GRM. At market rents the property is a 12.50 GRM and 5.45% CAP. Approx 18% upside in current rents.

SB24243567

MLSⓇ ID

December 3, 2024

Listed

December 4, 2024

Updated

Map

1034 Newport Avenue
Long Beach CA, 90804

Interior Features

Total Stories: 2
Laundry Description: Common Area
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.14 Acres
Lot Features: Level
Sewer: Public Sewer

Other Property Details

Area Name: 3 - Eastside, Circle Area
Days on Market: 1
Garage: Yes
Garage Spaces: 5
Parking Total: 5
View: No
County: Los Angeles
Water Source: Public
Pool: No
Pool Features: None
Zoning: LBR4R

Listing Contact: 310 802-2500

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/4/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 12/4/2024 at 10:02 PM UTC