2247 Earl Avenue
Long Beach, CA 90806
- – beds
- – baths
- – sqft
- 5,900 sqft lot
- 1955 build
- – on site
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This is a unique opportunity to purchase a partially stabilized 7-unit asset in a core Southern CA market with real upside to a 6.37% cap rate. Current ownership has established a proven renovation plan by remodeling 4 out of 7 units and achieved market rents for only 57% of the building. Leaving an additional 29% upside in rents for a new owner to capitalize on. Some improvements include high end kitchen & bathroom remodels in four units, added mini split AC/heaters in two units, added in-unit washer dryers in two units, added in-unit sub panels in three units, installed artificial turf in front yard and added drought tolerant landscaping with drip new irrigation system. The building has a diverse unit mix comprised of (1) 2BD/1BA, (5) 1BD/1BA, (1) Studio units and (4) on-site garages.
Listed By CRMLS_CA / Andrew McAllister / Nationwide Real Estate Execs
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Last updated May 5, 2023
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MLS# RS22234336 —
Walk Score®
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Soundscore™
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Max Internet Speed
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Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
3/21/23
Mar 21, 2023
|
Sold | CRMLS_CA | $1,858,000 | 0.4% |
3/20/23
Mar 20, 2023
|
Pending | CRMLS_CA | $1,850,000 | |
12/5/22
Dec 5, 2022
|
Price Changed | CRMLS_CA | $1,850,000 | -2.4% |