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Long Beach, CA 90808 4675 N Bellflower Boulevard

$2,500,000

Sold: Oct 30, 2020
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Presented By: Andrew McAllister with Nationwide Real Estate Execs;
  • MLS# RS20144770
  • 07/21/2020
  • Request Tour
  • Request Info
  • BedBeds • 8
  • BathBaths • 8
  • FootageSQFT • 6,312

Home Details

Just reduced price by $100K! The asset is now offered at a 5.26% Cap Rate and 12.80 GRM on current actual rents with all tenants up to date on rent payments. The unit mix is comprised of Four (2 Bed / 2 Bath), One (2 Bed / 1 Bath) and Four (1 Bed / 1 Bath) spacious units averaging 789 square feet each. Ownership has made substantial improvements (all permitted through the City of Long Beach), including: Converting Three out of Four (2 Bed / 1 Bath) to (2 Bed / 2 Bath) units, brand new 400 AMP main service + in-unit sub-panels, new plumbing from the water meters to the units, double pane vinyl windows, added Whirlpool washers/dryers in 6 out of 8 units, fully renovated seven units with white shaker cabinets, high grade faux wood floors, granite counter-tops and three-piece Amana stainless steel appliances. The asset presents a unique opportunity to purchase a turnkey 8-Unit complex with +/- 10% upside in rents located in one of the premier zip codes in Long Beach, providing an investor with incredible in-place cash flow and a low maintenance building moving forward.
Presented By: Andrew McAllister with Nationwide Real Estate Execs;

General for 4675 N Bellflower Boulevard

Additional Parcels Y/NNo
AppliancesDishwasher, Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator
Assoc Fees
Association Y/NNo
Building Area UnitsSquare Feet
Buyer Agent Compensation2.000
Buyer Agent Compensation Type%
Buyer FinancingCash to New Loan
Cap Rate5.26
CityLong Beach
Close Price2550000
Community FeaturesCurbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks, Urban
CoolingNone
CountyLos Angeles
DirectionsOn Lakewood Blvd Between Del Amo Blvd & Carson Avenue
Electric Expense600
Fuel Expense
Garage Spaces
Garage Y/NNo
Gross Income195000
HeatingWall Furnace
Insurance Expense2525
Land Lease Y/NNo
LevelsTwo
Listing AgentAndrew McAllister - BRE#01946829
Listing Agent State License01946829
Lot Size Square Feet7327
MLS Area29 - Lakewood Village
MaintenanceExpense4400
Net Operating Income130022
New ConstructionNo
Number of Units Leased8
Operating Expense57978
Pool FeaturesNone
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidential Income
Rent Control Y/NYes
RoofFlat
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusClosed
StatusClosed
Stories2
Street NameBellflower
Subdivision NameLakewood Village (LKVL)
Tax Lot3
Taxes$31,546
Tenant PaysElectricity, Gas
TermsCash, Cash to New Loan, Conventional
Total Actual Rent16250
Total Units8
Trash Expense0
Water Sewer Expense6000
Year Built1961
Year Built SourceAssessor
ZoningLBR4R

Interior for 4675 N Bellflower Boulevard

Air Conditioning Y/NNo
Common WallsNo Common Walls
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommon Area, Inside, In Kitchen, Stacked
Street SuffixBoulevard
Total Stories2
Window FeaturesDouble Pane Windows

Exterior for 4675 N Bellflower Boulevard

Building Area Total6312
Foundation DetailsSlab
Lot FeaturesLevel, Street Level
Lot Size Acres0.1682
Lot Size Area7327
Lot Size SourceAssessor
Lot Size UnitsSquare Feet
Number of Buildings1
Number of Separate Electric Meters9
Number of Separate Gas Meters9
Number of Separate Water Meters1
Parking FeaturesCovered
Total Parking0
Water SourcePublic
1527188455

First Team Client Services

Price $2,500,000
MLS#RS20144770
List Date 07/21/2020
Property Type Income
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors