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Listed by Blair Newman, DRE #01459316 • Coldwell Banker Envision
$ 1,547,000
Est. payment /mo
Pending
1306 E Hellman ST Long Beach, CA 90813
8,233 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRPW26219871
Year Built 1922
Lot Size 8,233 Sqft
Source California Regional MLS
Property Description
Outstanding 9-Unit Long Beach Investment Opportunity. Strong Cash Flow, Major Upgrades & Long-Term Upside! Discover this professionally managed and income-producing 9-unit apartment building offering excellent curb appeal, strong investment performance, and future upside in one of Long Beach's established rental neighborhoods. The property features eight 1 bed/1 bath units and one spacious 3 bed/1 bath unit, offering a total of approximately 4,602 sq/ft of living space on a large 8,233 sq/ft lot. Numerous improvements have been completed throughout the property, including updated and renovated units, with two units redesigned to create a more desirable open concept floor plan. Significant capital improvements include upgrades to the main electrical system and individual unit electrical panels, updated drain lines, and a newer roof double recoating in 2023. Additionally, four attached garages with possible ADU potential for additional rental income (buyer to verify). Impressive investment performance with an approximately 6.7% cap rate and 8.7 GRM. Whether you're an experienced investor looking to expand your rental portfolio or exploring the possibility of owner occupancy while generating rental income, this property presents an outstanding opportunity to build long term wealth
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Wall Furnace
Laundry None
Exterior
Garage Spaces 4.0
Pool None
Building
Water District - Public
Others
Tax ID 7266002026
Special Listing Condition Not Applicable
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