1377 Warren Avenue, Long Beach, CA 90813
List Price: $1.63M
Listing Status: Active
Original List Price: $1.63M
0Days on Market: 147
4 Bedrooms · 11 Bathrooms · 4,944 sq ft
Property Type: ResidentialIncome
Year Built: 1922
Lot Size: 5,700 sq ft
MLS Number: 26640863
About This Property
CHEAPEST PRICED LISTING IN ALL OF LONG BEACH. PRICED TO SELL. 8.5 GRM AND 7.3% CAP WITH UPSIDE TO A 8.1 GRM AND 7.9% CAP. 11 units in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (you can increase 8.7% this year). The property is professionally managed and well-maintained. The property is MASTER METERED for all utilities and as such, there is an opportunity for a new owner to either implement a RUBS program or increase rents to cover these costs. Electrical updated in the past 3 years. Qualified Buyers can put as little as 25% down and earn over a 13% cash on cash return against in-place rents. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Qualified Buyers can put down as little as 25% with excellent bank financing. Additionally, the Long Beach airport is undergoing a $37MM renovation for the upcoming 2028 Olympic Games.
Listing provided by: Jonathan Swire DRE #01336277 424-230-3700 jon@jonswire.com, The Agency
Source: CRMLS, MLS #: 26640863
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.