4035 E Livingston Dr, Long Beach, CA 90803

Property Description

12% annual total return on down payment and only two blocks to the ocean. Icon property in Belmont Heights. $800,000 down payment and incredible 3.75% bank loan. Potential to substantially increase rents. 
 
 The Investment Opportunity:
 
 - 12% annual return on down payment after equity build up
 - Tax free monthly cashflow 
 - 'A' location
 - Long term tenants with excellent credit
 - 3.75% financing with an $800,000 down payment
 - No rent control and potential to substantially increase rents
 
 Unit mix: 11x 2B/1B - 1x 2B/2B - 2 Studios, 4 garages and owned laundry. 
 
 Refurbished in 2009 including a new roof, new hot water heaters, and two new sewer laterals. New dishwashers and carpet in some of the units. Copper pipes throughout and upgraded electric subpanels in each unit.
 
 Location Description:
 
 E. Livingston Drive is the main thoroughfare between downtown Long Beach and the desirable beach side communities of Belmont Shores and Naples, including the trendy 2nd Street. The elevated corner lot, facing E Livingston Dr and Belmont Ave, gives many of the units an ocean view and the complex great visibility from E Livingston Drive. A block and half from the beach and 5 minute walk to the shops, restaurants and bars of 2nd Street.