Long Beach, CA 90813,405 E Esther ST

$1,850,000

Est. payment /mo
Est.Price: ?

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405 E Esther ST Long Beach, CA 90813

6,969 Sqft Lot

SOLD DATE : 02/05/2021

Key Details

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Poly High (Ph)

MLS Listing ID SB20183356

Year Built 1923

Lot Size 6,969 Sqft

Property Description

High yield 7-unit apartment building half a block to a blue line station and steps to numerous new developments. Great unit mix of one 6 Bed/2 Bath unit, three 3 Bed/1 Bath units, one 2 Bed/1 Bath units, one 1 Bed/1 Bath, and one studio. Exterior refresh just completed and 5 out of 7 units remodeled. Super strong income at 12.59X gross on actuals with a 6% upside to market GRM of 11.81X and a 5.5% market cap rate. Qualifies for 75% LTV financing at historically low interest rates. Off-street parking for 4-5 cars. Just North of Downtown Long Beach. Blue lines serves both Downtown Los Angeles and Long Beach. Blocks away from elementary, middle, and high schools.

Location

State CA

County Los Angeles

Area 9 - Poly High

Zoning LBPD29

Interior

Laundry None

Exterior

Pool None

Community Features Urban

Building

Lot Description 6-10 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Anthony Walker • Buckingham Investments, Inc
Bought with John Alden • Alden Pacific Investments, Inc.

Scott Goshorn

Director- Luxury Estates | License ID: 01964409

+1(323) 251-5479

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