Listing Courtesy of: CRMLS / Coldwell Banker Platinum Properties / Nicholas Gallyon - Contact: 714.707.2990
826 Rose Avenue Long Beach, CA 90813
Active (6 Days)
MLS #:
OC24224912
Lot Size
5,905 SQFT
Type
Multifamily
Year Built
1923
Style
Spanish
County
Los Angeles County
Community
,North Alamitos Beach
Listed By
Nicholas Gallyon, DRE #01999272 CA, Coldwell Banker Platinum Properties, Contact: 714.707.2990
Source
CRMLS
Last checked Nov 6 2024 at 4:26 PM GMT+0000
Interior Features
- Washer
- Dryer
- Laundry: Stacked
- Laundry: See Remarks
Lot Information
- Value In Land
- Near Public Transit
Utility Information
- Utilities: Water Source: Public
- Sewer: Public Sewer
Additional Information: Platinum Properties | 714.707.2990
Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.
Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU.
FOR SALE: $1,850,000 – Owner’s Loss, Investor’s Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors.
Additional Expansion Opportunity with 2 Fully Permitted ADU Plans:
The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%.
Property Highlights:
• Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually).
• Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space.
• Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on quality and value. Each bid projected a similar build time of eight months. To ensure thorough vetting, we partnered with BuildZoom, who reviewed all proposals, helped reduce additional costs, and confirmed we hired the optimal contractor. BuildZoom also closely collaborated with the architect and design team to manage revisions and secure city approvals.
• Construction Ready to begin with a 8 month build timeline and total build cost of $434,000.
• Investment Potential: After completion, the property will offer 5 units, a projected ARV of $2.6M, proforma cash flow of $140,000 annually, and a cap rate of 6.07%.
• Prime Location: Situated in a vibrant Long Beach neighborhood, with easy access to schools, parks, dining, and the beach.
This is a rare opportunity to acquire a high-performing investment property with significant upside potential. Whether you're a seasoned investor or looking to expand your portfolio, 826 Rose Ave is a must-see!