2500 2506 E Spaulding ST, Long Beach, CA 90804
2500 2506 E Spaulding ST, Long Beach, CA 90804
2500 2506 E Spaulding ST, Long Beach, CA 90804
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$4,995,000
Est. payment /mo
0.3 Acres Lot
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UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26223076

HOA Y/N No

Year Built 1962

Lot Size 0.297 Acres

Property Sub-Type Apartment

Property Description

2500-06 East Spaulding Street is an updated 18-unit apartment property in Zaferia, a largely built-out submarket of East Long Beach. Built in 1962,
the two-building, 14,866-square-foot property is offered at $4,995,000, or $277,500 per unit and $336 per square foot. All 18 units are updated two-bedroom, one-bath floor plans, and the building has fresh two-tone exterior paint and a central courtyard. In-place rents of $37,871 per month carry a 6.2% capitalization rate on $307,432 of net operating income, and the $40,500 per month the unit mix supports at market takes net operating income to $333,657 and the return to 6.7%. Eight enclosed garages, eight open parking spaces and two onsite laundry rooms give the building amenity depth uncommon at this size. RUBS, parking and pet income add $1,790 per month in ancillary revenue. Each unit is individually metered for electricity,
giving residents direct control over utility costs and holding the owner-paid expense load down. Gated keypad access adds security and supports longterm tenant retention. Interiors feature stainless steel appliances, wood-look plank flooring, and ceiling fans, finishes that support durable occupancy and continued rent growth in one of Long Beach's most walkable neighborhoods.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Sidewalks

Total Parking Spaces 16

Private Pool No

Building

Lot Description Irregular Lot

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7260019020

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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Listed by Christopher Walker Triqor Group chris.walker@triqorgroup.com, DRE #01905338

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