Long Beach, CA 90806 522 E Rhea Street E

$1,850,000

522 E Rhea Street E Long Beach, Ca - Image 1

522 E Rhea Street E Long Beach, Ca - Image 2

522 E Rhea Street E Long Beach, Ca - Image 3

Presented By: Marvin Malone with Amberwood Real Estate, Inc.; 562-377-2370

MLS# PW24016535
01/30/2024

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Beds • 15
Baths • 7
SQFT • 4,212

Home Details

THIS 4-UNIT PROPERTY IS A RARE FIND FOR INVERSTORS Looking for Great Income, with a Current Gross Schedule Income of $140,100 per Year!!! Also, a Great Opportunity to Transition this Property into a Group Home!!! 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!!

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 WallsItem1CommonWall

Electric On Property Y/NNo

Fireplace FeaturesNone

Fireplace Y/NNo

FlooringLaminate, Tile

Heating Y/NYes

Laundry FeaturesWasherHookup, ElectricDryerHookup, GasDryerHookup, Inside, Stacked

Street SuffixStreet

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

Carport Y/NNo

CityLong Beach

Community FeaturesCurbs, StreetLights, Sidewalks

Construction MaterialsStucco, CopperPlumbing

ContingencyNONE

CoolingNone

CountyLos Angeles

Days on Market73

DirectionsN/PACIFIC COAST HWY W/ATLANTIC AVE

ElectricItem220VoltsinLaundry

Entry LocationSteps

Garage Spaces0.0

Garage Y/NNo

Gross Income0.0

HOA / Comm AssnNo

HeatingWallFurnace

Home Warranty Y/NNo

Insurance Expense2400.0

Interior FeaturesCeilingFans, GraniteCounters, RecessedLighting

Land Lease Y/NNo

Lease Considered Y/NNo

Lease Renewal Y/NNo

LevelsTwo

Listing TermsCash, Conventional, FHA, OwnerMayCarry

Lot Size Square Feet6500.0

MLS Area9 - Poly High

MobileHomeRemainsYNNo

Net Operating Income0.0

New ConstructionNo

Number of Units Leased4

Open Parking Spaces8.0

Operating Expense0.0

Pool FeaturesNone

PossessionCloseOfEscrow

Private PoolNo

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 StatusActive

StatusActive

Stories2

Street NameRhea

Subdivision NamePoly High (PH)

Tax Lot8

Tenant PaysCableTV, Electricity, Gas

Total Actual Rent11675.0

Total Units4

Trash Expense100.0

UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected

ViewNone

View Y/NNo

Water Sewer Expense278.0

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 FeaturesItem25UnitsAcre, NearPublicTransit

Lot Size Acres0.1492

Lot Size Area6500.0

Lot Size SourceAssessor

Lot Size UnitsSquareFeet

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

SpaNo

Total Parking8.0

Water SourcePublic

Additional Details

Price History

First Team Client Services

Price $1,850,000

MLS#PW24016535

List Date 01/30/2024

Property Type Multi-Family

Phone 714.964.3311

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