Est. cap rate

2.6%

Assumed rent, all units

$12,160/mo

Units

4

Price per unit

$698,750

Est. annual NOI

$72,960

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

7

Bathrooms

6

Building size

4,210 sqft

Lot size

4,343 sqft

Year built

1924

Stories

2

Garage spaces

4

Style

Spanish

Heating

Wall Furnace,Central

Cooling

Central Air,Wall/Window Unit(s)

Pool

None

View

Ocean,Neighborhood,Peek-A-Boo

Status

Active

Days on market

161

MLS #

241657524

About this property

NEW PRICE! Rare Bluff Park Spanish Estate — Live in the 4-Bedroom Owner's Residence While Three Additional Homes Generate Rental Income! Just two blocks from the beach with water views, this exceptional Spanish estate offers something increasingly difficult to find in coastal Long Beach: the lifestyle and privacy of a substantial single-family residence combined with three separate income-producing homes. The expansive 4-bedroom, 2.5-bath owner's residence serves as the heart of the property and features a fireplace, HVAC, whole-house stereo, private laundry, two-car garage and secluded patio with built-in seating and BBQ. Surrounding the main residence are three beautifully updated 1-bedroom, 1-bath homes, each with dedicated office space, updated kitchen and bath, hardwood floors and private outdoor space. The three residences currently generate a combined $6,995 per month in rental income, creating an exceptional opportunity for an owner-user to help offset ownership costs while enjoying the main residence. Or imagine the possibilities for multi-generational living—parents, adult children, extended family or long-term guests can live close while still maintaining their own private residences .More than $700,000 has been invested in renovations and improvements, including plumbing, electrical, HVAC systems, windows, landscaping, patios, garage reconstruction and seismic retrofitting, while carefully preserving the property's original Spanish character, restored hardwood floors, custom built-ins, crown molding and architectural details. Additional features include four garages with built-in storage, multiple private outdoor spaces and a beautifully landscaped central courtyard with fountains. Located on a picturesque tree-lined street directly across from Trolley Park and just two blocks from the beach. Live in the main residence. Collect $7,350 per month from the other three homes. Keep family close—or simply enjoy an extraordinary Bluff Park property that offers both lifestyle and income.

Location

3409 E 2nd

Long Beach, Los Angeles, CA, 90803