CA > Long Beach > ,North Alamitos Beach
Long Beach, CA 90813,826 Rose AVE
Long Beach, CA 90813,826 Rose AVE
Long Beach, CA 90813,826 Rose AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,850,000
Est. payment /mo
5,906 Sqft Lot
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UPDATED:

11/02/2024 12:37 AM

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Subdivision ,North Alamitos Beach

MLS Listing ID OC24224912

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1923

Lot Size 5,906 Sqft

Property Description

Prime 5-Unit Multifamily Investment Opportunity in Long Beach

Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU.

FOR SALE: $1,850,000 – Owner’s Loss, Investor’s Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors.

Additional Expansion Opportunity with 2 Fully Permitted ADU Plans:
The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%.

Property Highlights:
• Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually).
• Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space.
• Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on quality and value. Each bid projected a similar build time of eight months. To ensure thorough vetting, we partnered with BuildZoom, who reviewed all proposals, helped reduce additional costs, and confirmed we hired the optimal contractor. BuildZoom also closely collaborated with the architect and design team to manage revisions and secure city approvals.
• Construction Ready to begin with a 8 month build timeline and total build cost of $434,000.
• Investment Potential: After completion, the property will offer 5 units, a projected ARV of $2.6M, proforma cash flow of $140,000 annually, and a cap rate of 6.07%.
• Prime Location: Situated in a vibrant Long Beach neighborhood, with easy access to schools, parks, dining, and the beach.
This is a rare opportunity to acquire a high-performing investment property with significant upside potential. Whether you're a seasoned investor or looking to expand your portfolio, 826 Rose Ave is a must-see!

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR2N

Interior

Fireplace No

Appliance Dryer, Washer

Laundry See Remarks, Stacked

Exterior

Garage Assigned

Garage Spaces 3.0

Garage Description 3.0

Fence Wrought Iron

Pool None

Community Features Biking, Curbs, Dog Park, Fishing, Golf, Gutter(s), Park, Storm Drain(s), Street Lights, Sidewalks

View Y/N No

View None

Roof Type Spanish Tile

Total Parking Spaces 3

Private Pool No

Building

Lot Description 2-5 Units/Acre, Near Public Transit, Value In Land

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Spanish

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled,Turnkey

Others

Senior Community Yes

Tax ID 7267016017

Security Features Security System,Carbon Monoxide Detector(s),Smoke Detector(s),Security Lights

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Nicholas Gallyon • Coldwell Banker Platinum Prop • 714.707.2990

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