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$1,350,000

Est. payment - /mo

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3,616 SqFt

Price Dropped by $50K

529 W 10th St. Long Beach, CA 90813

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

10/25/2024 11:42 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 3,616 sqft

Price per Sqft $373

Subdivision Willmore District (Wm)

MLS Listing ID PW24183703

HOA Y/N No

Year Built 1928

Lot Size 7,814 Sqft

Property Description

We are pleased to present the sale of 529 W 10th St. in the Willmore neighborhood of Long Beach just minutes from Downtown. The property has undergone significant renovation with four of the units receiving full interior renovation including new flooring, kitchens, bathrooms, and fixtures. The property has also had the majority of major systems replaced - new electrical panels and wiring, and new PEX plumbing throughout. 10th St. Consists of a large detached 1,336 square foot 3 bed/2 bath front house that includes a private gated space for multiple cars. The front house used to be two units at one point , and the possibility exists to split in back to it's original configuration as a duplex- one 2 bed/1 bath and one 1 bed/1 bath unit, which would result in about a 25% increase in rental income. Two detached duplex's are behind the front house that consist of one bedroom units (two of the units have been converted from studios into one bedroom units). A detached double car garage is at the rear of the property, which could be converted into a detached ADU as well.
529 W 10th St. presents a great opportunity to purchase a high cashflowing asset at a 11.57 GRM and 5.44% cap rate where the current owner has done the majority of the heavy lifting with additional upside.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Rooms

Ensuite Laundry None

Interior

Laundry Location None

Fireplace No

Laundry None

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Urban

Total Parking Spaces 2

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7272008023

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Listed by Jackson Jorgensen • Younglewin Advisors, Inc. • jack@younglewin.com

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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