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$2,400,000
Est. payment /mo
7,501 Sqft Lot
UPDATED:
12/19/2024 05:48 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24439201
HOA Y/N No
Year Built 1929
Lot Size 7,501 Sqft
Property Description
219 W. 9th Street is an eight-unit apartment community located near Downtown Long Beach, operating at a 6.18% cap rate and 11.42 GRM . The property is comprised of three buildings on a 7,500 square foot lot.The property consists of five units constructed in 1983 and three original units built in 1929. 219 W. 9th Street has a varied unit mix of: two Junior 1BD/1BA, three 1BD/1BA, one 2BD/2BA, and two 3BD/1BA. Six of these units have been upgraded with high-end finishes, including in-unit washer/dryers, new cabinets, countertops, and dishwashers.The property completed several capital upgrades, including a new roof on the front building, partially updated electrical and plumbing systems, and new windows were installed in the renovated units.The asset boasts a total of 13 parking spaces, seven (7) garages and six (6) surface spaces. The garages may potentially be converted to ADUs for additional income.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBCO
Interior
Fireplace No
Building
Lot Description Corner Lot
Story 2
Others
Tax ID 7272012017
Special Listing Condition Standard
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Listed by Douglas Steinriede • Dover Management Corp.
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