Est. cap rate

2.5%

Assumed rent, all units

$4,500/mo

Units

2

Price per unit

$547,500

Est. annual NOI

$27,000

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

3

Bathrooms

2

Building size

2,474 sqft

Lot size

6,491 sqft

Year built

1923

Stories

1

Garage spaces

1

Style

Craftsman

Heating

Fireplace(s),Central

Cooling

None

Pool

None

View

None

Status

Active

Days on market

0

MLS #

248989660

About this property

Opportunity to live in a spacious 3-bedroom 2 bath front house and enjoy income at the same time! There's a spacious 2-bedroom 1 bath back house on the same lot currently rented. Approximate sqft for the front house is 1,550 and the back 924. The exteriors of both houses plus the single garage have been painted in October of 26. The interior of the larger front house has also been painted in October. The living room hardwood floors have just been refinished, and neutral carpet in all three bedrooms is new. The property may be considered a fixer upper in some respects. There is work left to be done. Most notably the garage foundation has been compromised by tree roots over the years. The tree is gone but the damage has been done. An estimate for removing the garage and concrete slab is available. A single garage could be rebuilt or instead leave an open pad providing extra parking for the front house or off-street parking for the back house resident. The city has already provided a garage impacted area permit for the existing garage. Kitchen and both baths will require updating. There is a private side yard patio accessible from either a back door or side slider off the living area for the exclusive use of the front house which is separate from the rear yard that can be shared by both the front and back houses. There's a street accessible carport that can accommodate 2 cars (tandem) facing Newport for the front house. The floor plan is open with a wood burning fireplace, spacious kitchen and large separate utility room. BIG potential in this property as a primary residence or as an investment. Great Eastside location east of Redondo and just north of 7th. Automatic sprinklers in the front. Low maintenance.

Location

820 1/2 Newport

Long Beach, Los Angeles, CA, 90804