Price Reduction - Views
Address
424 W 9th Street Long Beach, CA
Price
$ 1,525,000
Property Attributes
  • ML#SB21001212
  • TypeIncome
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaDowntown Area - Alamitos Beach
  • NeighborhoodWillmore District
  • Zip90813
  • Style
  • Price$ 1,525,000
  • Bedrooms8
  • Full Bathrooms8
  • Half Bathrooms0
  • Lot Size3,920 SqFt
Listing Provided Courtesy Of:
Stephen Takahashi with Lyon Stahl Investment Real Estate, Inc..
Data Source:
CRMLS
Property Description

Price Reduction. 424 9th St in Long Beach is now listed at under $200k a door, over a 5% CAP rate, and under a 13 GRM. Located in the Heart of Downtown Long Beach, this is a great opportunity to own a well-kept 8 unit property with stable income and at least 10% upside in rents. The surrounding area is currently being heavily developed with an estimated $3.5 billion currently under construction. This is a great opportunity to own near the historic Willmore District with a fresh look to appeal to the young professionals flooding to Downtown's hip revival. 424 9th St comes with a mixture of hardwood floors, high ceilings, a sun-deck, granite countertops, and vintage built-in cabinets. The property consists of 2 buildings on a grassy 4,105 sq ft lot with (5) 1-bed/1-bath units and (3) studios. All tenants are currently up to date.

Price History
1/4/2021 Listed $1,650,000
2/9/2021 4% - $1,595,000
3/16/2021 5% - $1,525,000

General Features

Carport Y/N Yes
Community Features Sidewalks
Levels Two
MLS Area 4 - Downtown Area, Alamitos Beach
Parking Features Carport
Pool Features None
Property Type Residential Income
Sewer Public Sewer
Spa Features None
Subdivision Name Willmore District (WM)
Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Total Actual Rent 10075
Total Units 8
View City Lights
Water Sewer Expense 1600
Zoning LBPD10

Interior Features

Common Walls No Common Walls
Laundry Features Inside

Exterior Features

Lot Dimensions 41' by 101'
Lot Features 6-10 Units/Acre
Lot Size Acres 0.09
Lot Size Area 4106
Lot Size Source Assessor
Lot Size Square Feet 4106
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 6
Number of Separate Gas Meters 1
Number of Separate Water Meters 1
View Y/N Yes
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90813

Price
AVG $1.49M
$1.53M
Visits
AVG 102
139
Year Built
AVG 1929
1904
Walkscore
AVG 89
92
Data Provided by Walkscore ® not using MLS data

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