Est. cap rate

3.6%

Assumed rent, all units

$6,260/mo

Units

2

Price per unit

$524,500

Est. annual NOI

$37,560

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

Duplex

Bedrooms

4

Bathrooms

3

Building size

2,048 sqft

Lot size

3,208 sqft

Year built

1924

Stories

2

Garage spaces

3

Style

Spanish

Heating

Wall Furnace

Cooling

None

Pool

None

View

None

Status

Active

Days on market

72

MLS #

242260949

About this property

*GREAT OPPORTUNITY near the best of Retro Row, in the historic district of Rose Park South! Well maintained Spanish-style Duplex with two spacious 2 bedroom units and 3 1-car garages that rent for $2500/mo + $2600/mo. Each unit is approx 1,024 sq ft with large original windows and restored plaster walls and ceilings. *The Downstairs Unit: has 2 bedrooms and 2 bathrooms, original oak hardwood floors, large kitchen with original cabinetry, dishwasher, and an island. It has access to the backyard with a deck, and rents 2 of the 1 car garages. This unit has 2 front doors and 2 back doors, and could possibly be split into 2 units - buyer to check with city. *The Upstairs Unit: has 2 bedrooms and 1 bathroom, newer vinyl flooring, a large kitchen with modern cabinetry and dishwasher. It has a rooftop patio, and rents 1 garage. BOTH units feature large closets, high ceilings, ceiling fans, and original details such as faux fireplaces flanked by original shelving, cabinetry, and built in pull-down desks. Both units each have their own stackable washer/dryers and lots of storage. Tenants pay trash, gas and electric. The property has was renovated in 2005, including electrical and plumbing and garage renovations. There is parking in front of the 3 garages. Roof was recoated in 2019. Walking distance to the beach, shops and restaurants. *1 Unit will be delivered vacant.* This property is eligible for the Mills Act.

Location

2624 E 6th

Long Beach, Los Angeles, CA, 90814