Long Beach, CA 90806 522 E Rhea Street E
$1,780,000
Pending
Presented By: Marvin Malone with Amberwood Real Estate, Inc.; 562-377-2370
Beds • 15
Baths • 7
SQFT • 4,212
Year Built • 1923
Home Details
Back on The Market!!THIS 4-UNIT PROPERTY IS A RARE FIND FOR INVESTORS Looking for Great Income, with a Current Gross Schedule Income of $149,300 per Year!!! With a Current Cap Rate at 6.75, Also, The Entire Building was Totally Remodeled Down to the Studs in 2019.The Property Currently has a Newer Roof, Newer Copper Plumbing Throughout, Newer Windows, Newer Interior & Exterior Paint, Newer Laminated Wood and Tile Flooring throughout, Recess Lighting Throughout, Remodeled Kitchens with Newer Wood Cabinets, Granite Countertops, Newer Refrigerators, Stoves, Microwaves, Washers & Dryers, That's Included with the Purchase!! This 4-Unit Building Offers (THREE) 4/Bedrooms 2/Bathrooms & (ONE) 3/Bedrooms with 1/Bathroom. Each Unit is Individually Metered with Gas & Electricity and Currently the Building is 100% Tenant Occupied. This Property Offers Great Gated Parking for Tenants, with (8) Inside Parking Spaces. This Property Wont Last!!6
Presented By: Marvin Malone with Amberwood Real Estate, Inc.; 562-377-2370
Interior Features for 522 E Rhea Street E
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsOneCommonWall
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringLaminate, Tile
Heating Y/NYes
Laundry FeaturesWasherHookup, ElectricDryerHookup, GasDryerHookup, Inside, Stacked
Total Stories2
Window FeaturesDoublePaneWindows
Other Rooms
Entry Level2
General for 522 E Rhea Street E
AccessibilityParking, AccessibleDoors
Additional Parcels Y/NNo
AppliancesDishwasher, FreeStandingRange, GasCooktop, Disposal, GasOven, GasWaterHeater, Microwave, PortableDishwasher, Refrigerator, Dryer, Washer
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.75
Carport Y/NNo
CityLong Beach
Community FeaturesCurbs, StreetLights, Sidewalks
Construction MaterialsStucco, CopperPlumbing
ContingencyNONE
CoolingNone
CountyLos Angeles
DirectionsN/PACIFIC COAST HWY W/ATLANTIC AVE
ElectricVolts220InLaundry
Electric On Property Y/NNo
Entry LocationSteps
Garage Spaces0.0
Garage Y/NNo
Gross Income147300.0
HOANo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense3300.0
Interior FeaturesCeilingFans, GraniteCounters, RecessedLighting
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, Conventional, Exchange1031, FHA, VaLoan
Lot Size Square Feet6500.0
Lot Size UnitsSquareFeet
MLS Area9 - Poly High
MaintenanceExpense3000.0
MobileHomeRemainsYNNo
Net Operating Income118214.0
New ConstructionNo
Number Of Units Total4
Number of Units Leased4
Open Parking Spaces8.0
Operating Expense31086.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property Sub Type AdditionalQuadruplex
Property SubtypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NNo
RoofComposition
Security FeaturesCarbonMonoxideDetectors, SmokeDetectors, SecurityLights
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Stories2
Subdivision NamePoly High (PH)
Tax Lot8
Taxes$20,000
Tenant PaysCableTv, Electricity, Gas
Total Actual Rent12475.0
Trash Expense1200.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
ViewNone
Water Sewer Expense3336.0
Waterfront Y/NNo
Year Built1923
Year Built SourceAssessor
Exterior for 522 E Rhea Street E
Building Area Total4212.0
Crops Included Y/NNo
FencingSecurity, WroughtIron
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre, NearPublicTransit
Lot Size Acres0.1492
Lot Size Area6500.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesAssigned, Concrete, Gated, OnSite
Private PoolNo
SpaNo
Total Parking8.0
Water SourcePublic
Additional Details
Price History
Keegan Cin
Team Lead
