Bought with Nicholas Cordero • Sage Real Estate Group, Inc.
$1,392,000
$1,395,000
0.2%For more information regarding the value of a property, please contact us for a free consultation.
573 Nebraska Long Beach, CA 90802
4,800 SqFt
Key Details
Sold Price $1,392,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 4,800 sqft
Price per Sqft $290
MLS Listing ID CRSB25232214
Year Built 1967
Lot Size 7,387 Sqft
Property Sub-Type Quadruplex
Property Description
Huge 1960's construction 4 unit in 5 blocks to the beach with all townhome style units. Extra large owner's unit currently configured as 2 beds and 2 baths, but originally 3 beds with primary suites. Three other large two story 2 bedroom units, one with 1 bath, and two with 2 baths. 2 out of 4 units recently remodeled with vinyl floors, new kitchens, and bathrooms. Large lot with 5 garages spaces plus extra square footage in the rear. Very attractive metrics at $291/square foot, 12.3X GRM on actuals with a significant 16% upside to 10.5X GRM and a market cap rate of 5.8%. Ideal location in the heart of Alamitos Beach only 5 blocks to the sand. 3 blocks from Downtown Long Beach's East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average household income of $98,000+ (per CoStar research).
Location
State CA
County Los Angeles
Interior
Laundry No Hookups
Exterior
View None
Building
Lot Description Other
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