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Listed by Alec Kara • Keller Williams Pacific Estate
$ 1,695,000
Est. payment /mo
Price Dropped by $100K
2626 E Anaheim ST Long Beach, CA 90804
5,852 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25165266
Year Built 1936
Lot Size 5,852 Sqft
Source California Regional MLS
Property Description
Price Reduction! Fully Renovated 6-unit building cash flowing at an amazing Current Cap Rate of 5.4% from day 1! Preliminary plans to add 5 ADUs to achieve an incredible 9% Cap Rate, 8.4 GRM, and only 203k/unit after taking into account all the construction costs (~546k assuming $200/SF). Attractive unit mix consisting of (4) well-designed One-Bedroom | One-Bathroom residential units plus (2) well-established commercial tenants (mini-market & flower-shop) both of which have been at this location for many years and have expressed interest for continued tenancy for years to come. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. Large lot with 7 parking spaces in the back with future development & ADU potential. The property has seen a complete restoration, down to every inch. Overall systems were updated with new copper plumbing in units, new electrical sub-panels in units, new HVAC systems, new water heaters, and brand-new windows in each unit. The units have undergone gut-level updating with new wood flooring, updated lighting fixtures, and brand-new kitchen and bathrooms. In the kitchen, there are new cabinets and modern countertops. The bathrooms boast new vanities and modern
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Laundry Laundry Area
Exterior
Pool None
Others
Tax ID 7260028004
Special Listing Condition Not Applicable
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