920 N Park, Long Beach, CA 90813
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920 N Park, Long Beach, CA 90813
920 N Park, Long Beach, CA 90813
920 N Park, Long Beach, CA 90813
920 N Park, Long Beach, CA 90813
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Frances Mouser Moon

Frances Mouser Moon

+1(760) 273-5315
$ 1,595,000
Est. payment /mo
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920 N Park Long Beach, CA 90813

7,318 Sqft Lot

UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26199827

HOA Y/N No

Year Built 1923

Lot Size 7,318 Sqft

Property Sub-Type Apartment

Property Description

This clean, well-maintained property presents a great opportunity for those looking to own a stable asset that is east to manage and operate. Located directly across from Drake Park in Long Beach's historic Drake Park/Wilmore City neighborhood, there are 6 large units within 2 structures on a 7,316sqft lot with 5 garages. Priced at a 10.99 GRM and 6.0% cap rate, the property offers immediate upside with 5 of 6 units eligible for rent increases, plus long-term value-add potential via 5 single-car garages that may allow for future ADU conversion. 5 of 6 units tastefully renovated in 2021 and recent capital improvements include new exterior stairs, new water heaters in 4 of 6 units, and upgraded breakers/subpanels. The lot features a charming central courtyard, and it's located across the street from the Historic Drake Park with proximity to over $8 billion in ongoing and planned development near Downtown Long Beach and the Waterfront. This is a great deal for all investors, especially those that need the end of the year tax shelter benefits and/or those currently in a 1031 exchange.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Park, Street Lights, Suburban, Sidewalks

Total Parking Spaces 5

Private Pool No

Building

Lot Description 6-10 Units/Acre, Back Yard

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7271022018

Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Lease Land No

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Kristen Mussenden Buckingham Investments, Inc 407-341-3254, DRE #02096276

NEARBY SCHOOLS & PROPERTIES

Frances Mouser Moon

Frances Mouser Moon

Team Leader License ID: 01309623

+1(760) 273-5315

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