1519 Obispo Ave, Long Beach, CA 90804

Property Description

This 14 unit, two story cash cow, has 10 singles and 4 1 bedrooms in front with 4 car parking garages off alley and community coin laundry too. The property has been over 70% remodeled and still has rental upside for a new investor. With further attention to detail, the new investor can buy into a cash flow stream with further upside in modernizing or restoring this beauty. The 10 single units measure approximately 350 sf and the 4 1 beds approximately 400 sf. The property is master metered for gas and electricity which saves the tenants the monthly expense and hassles of paying two utility bills. The building is very efficient and the amount of units placed on the lot cannot be replaced by current building parameters on new construction, so this means a lot of bang for your buck. 
 
 With leverage from a new loan using the banks money, your amount invested can go into building and unit renovations and making your returns greater. THE EAST SIDE CIRCLE AREA has been on a major improvement swing being just off Pacific Coast Hwy and a block west of Redondo Avenue near the traffic circle area. It is close to employment and freeway close too. There is an insatiable demand for affordable units for 1-2 occupants anywhere in LA County and there a re many tenants wanting to apply should you get a vacancy. Th cash flow and GRM & CAP rate are are lower than market deals that have sold recently.