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$ 900,000
Est. payment | /mo
6 Beds
3 Baths
4,261 Sqft Lot
$ 900,000
Est. payment | /mo
6 Beds
3 Baths
4,261 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID PW26179995
Bedrooms 6
Lot Size 4,261 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
1636 N. Stanton Place presents the opportunity to acquire a well- located three-unit multifamily property in Long Beach offering attractive in-place cash flow, a diversified unit mix, and additional upside through future rent growth. Offered at $900,000, the property provides investors with a compelling combination of current yield and long-term income potential. The property consists of (1) 1BD/1BA unit, (1) 2BD/1BA unit, and (1) 3BD/1BA unit. Current monthly rents total $6,470, with projected market rents of $6,700 per month. The one-bedroom unit is currently rented at $1,670 compared with a projected market rent of $1,750, while the two-bedroom unit is rented at $2,000 compared with a projected $2,150. With only three units, the property offers investors a manageable multifamily asset with substantially greater income diversification than a single-family or duplex investment while retaining the operational simplicity of a small residential property. The varied unit mix further reduces reliance on any single tenant profile and creates multiple rent points within the property. For investors seeking a smaller multifamily acquisition with immediate income and identifiable upside, 1636 N. Stanton Place offers a compelling combination of a 5.93% going-in cap rate, rental growth potential, larger two- and three-bedroom floor plans, and a $300,000-per-unit basis. As rents move toward projected market levels, investors have the opportunity to enhance NOI and overall property value while benefiting from strong in-place cash flow.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Off Cherry Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7260013014
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Robert Stepp, DRE#01456379 Keller Williams Realty Downey
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