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    1223 E 15th Street

    Long Beach, CA 90813
    • $1,298,000
    • STATUS: Active
    • ON SITE: 88 days
    • ID#: OC21029603
    $1,298,000
    • 0
      BEDS
    • 0.25
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,231
      SQFT
    • $402
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1915
    County:

    School Ratings & Info

    Description

    Long Beach Investor Special! This beautiful California Bungalow home offers 4- fully rented units and enough space to add a few more! Centrally located blocks from Long Beach City College and a short drive from Ocean Blvd, this sprawling complex offers plenty of opportunities for an experienced investor down to the house hacker. Enjoy the comforts of living in the large (over 1,300 sqft) single-level, 2 bedroom 1 bath bottom front unit (photographed) while collecting rents from the other 3 units to help pay your mortgage. This home has been recently updated with modern touches while maintaining its core architectural features. These features include, a complete remodel of the kitchen and bathroom, new wiring, plumbing, vinyl windows, laminate flooring and wall heater. The unit above is a spacious 1 bedroom (there may be space to add an additional bedroom) since it is approx 1,000 sqft, currently renting for $1,230 per month! In the middle of the property is a studio apartment ($700) above the laundry room / storage area. The storage area can be converted into a 1 or 2 bedroom apartment for extra income (approx. $1,800) or a private entertaining space for the owner to enjoy. In the back is a free standing, 2 bedroom 1 bath approx. 500 sqft home currently renting for $1,625 per month. There's also 5 off-street parking, which is highly coveted! Total Rent: $6,200 (under market) with potential to add additional units.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-12T00:36:16.78. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The DeBonis Team | Keller Williams Realty. Licensed in the State of California, USA.
    www.debonishomes.com/homes/114224123
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    1223 E 15th Street Long Beach, CA 90813

    • Price: $1,298,000
    • Status: Active
    • ID#: OC21029603
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.25
    Acres
    3,231
    SQFT
    $402
    $/SQFT
    1915
    Built
    Neighborhood:
    Poly High (Ph)
    County:
    Los Angeles
    Area:
    9 - Poly High
    Property Description
    Long Beach Investor Special! This beautiful California Bungalow home offers 4- fully rented units and enough space to add a few more! Centrally located blocks from Long Beach City College and a short drive from Ocean Blvd, this sprawling complex offers plenty of opportunities for an experienced investor down to the house hacker. Enjoy the comforts of living in the large (over 1,300 sqft) single-level, 2 bedroom 1 bath bottom front unit (photographed) while collecting rents from the other 3 units to help pay your mortgage. This home has been recently updated with modern touches while maintaining its core architectural features. These features include, a complete remodel of the kitchen and bathroom, new wiring, plumbing, vinyl windows, laminate flooring and wall heater. The unit above is a spacious 1 bedroom (there may be space to add an additional bedroom) since it is approx 1,000 sqft, currently renting for $1,230 per month! In the middle of the property is a studio apartment ($700) above the laundry room / storage area. The storage area can be converted into a 1 or 2 bedroom apartment for extra income (approx. $1,800) or a private entertaining space for the owner to enjoy. In the back is a free standing, 2 bedroom 1 bath approx. 500 sqft home currently renting for $1,625 per month. There's also 5 off-street parking, which is highly coveted! Total Rent: $6,200 (under market) with potential to add additional units.
    Exterior Features

    Architectural Style Craftsman Exterior Features LightingRain Gutters Lot Features Back YardFront YardLawnNear ParkRectangular Lot Number Of Separate Electric Meters 4 Parking Features DrivewayOff StreetPrivateRv Access/ParkingOne SpaceOn Street Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No View None View YN No

    Interior Features

    Appliances DishwasherDisposalMicrowave Common Walls 1 Common Wall Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring CarpetLaminate Heating Wall Furnace Heating YN Yes Interior Features Granite CountersRecessed LightingStorageBedroom On Main LevelWalk-In Closet(S)

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cable Tv Expense 0 Cap Rate 5.6 Common Interest None Community Features CurbsStorm Drain(S)Street LightsSidewalksPark Disclosures Familial RelationHome Warranty Electric Standard Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 68450 Gross Scheduled Income 74400 Insurance Expense 2031 Land Lease YN No Laundry Features Common AreaInsideIn Garage Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional Net Operating Income 70940 New Construction YN No New Taxes Expense 0 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 3460 Possession Close Of Escrow Property Condition Repairs CosmeticUpdated/Remodeled Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityParking FeeSee Remarks Trash Expense 554 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Water Sewer Expense 875 Water Source Public Zoning Lbr2n

    Listing provided courtesy of Andrew Brown of Joshua Ayala


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-12T00:36:16.78. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The DeBonis Team | Keller Williams Realty. Licensed in the State of California, USA.
     
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    Riverside CA, 92508