1223 E 11th St, Long Beach, CA 90813

Property Description

All units can be delivered vacant. HUGE INCOME POTENTIAL, in the range of $7,000 a month. Great investment opportunity! Currently being used as 4 units. Zoning LBR2N. Property type: 2-4 units. Use code: duplex (any combination). The front house has 3 bedrooms, 2 bathrooms, plus a bonus room (about 1,165 square feet). Attached to the side of the front house is a studio with its own bathroom, kitchen, and a huge walk-in closet that is almost the size of a bedroom (about 450 square feet). To the front and the side of this building are two uncovered gated parking spaces. The front building was built in 1923. Per seller, the back building was added on in 1991. It is two-level; the top unit is a spacious 3 bedrooms, 2 bathrooms (about 1,200 square feet) with a long open patio area and its own washer and dryer hookups, and the bottom is a spacious 1 bedroom, 1 bathroom unit with a full kitchen (about 600 square feet). The two 2-car garages are attached to the back building. Per Apartments.com, rents for a 3brs/2bths are going between $2,213 to $2,525, and a 1br/1bt are going between $1,593 to $1,841, and studios are going between $1,150 to $1,450. The current owner lives in the front unit. Owner pays for gas, water, and sewer, which total to about $300 a month. This property is located in the heart of Long Beach, surrounded by mostly residential properties. Don't miss out on this great investment opportunity. Video here: https://www.youtube.com/watch?v=e_lWv_uPxYo