1109 Euclid Ave, Long Beach, CA 90804

Property Description

Best Deal East of Redondo Ave just back to the market. The rents are actual rents with rooms to increase. The offered property is a rare to find five single story houses on a lot. The property is surrounded by mostly single family home East Side/Circle neighborhood and within a close proximity to California State University of Long Beach and VA hospital. This subject property consists of five single story houses built in 1920-1961. It is non-rent control and has an ideal unit mix of one 4-bedroom/2-bathroom house, two 3 bedroom/1 bathroom houses, one 2bedroom/1bathroom house, and one small single house. The building was built of wood frame/stucco construction with convenient on-site laundry facilities. There are plenty of street parking spaces available because it is in a quiet residential neighborhood with mostly single family homes Because of its close proximity to California State University of Long Beach, it is an ideal opportunity for student housing operator. The Square footage is estimated. Buyer and Buyer's agent to verify the square footage and the age of the buildings. Great existing Loan is $465K assumable at 4.27% fixed till 4/2017 then variable at Libor+2.25% till 4/2042. Buyer can either assume the loan or get a new loan.