826 Rose AVE Long Beach, CA 90813
UPDATED:
10/31/2024 10:59 PM
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,040 sqft
Price per Sqft $906
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
Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach. This property is currently generating $6,185 per month in rental income ($78,600 annually) and provides immediate returns with approved expansion potential through two additional ADU units.
Expansion Opportunity with Fully Permitted ADU Plans:
The property includes fully permitted, shovel-ready plans for two new ADU units (each a 2-bed, 2-bath, 2-story design), converting this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,220 upon completion and an estimated cap rate of 6.07%.
Property Highlights:
Current Units: 3 fully renovated units, fully occupied, generating $6,185 monthly rental income ($78,600 annually)
Unit Breakdown: 1 one-bedroom, one-bath; 2 two-bedroom, one-bath units
Future Expansion: Fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space
Construction Ready: Selected contractor with a 6-8 month build timeline and estimated build cost of $434,000
Investment Potential: After expansion, the property will feature 5 units, with a projected ARV of $2.4M to $2.6M, proforma annual cash flow of $140,220, and a cap rate of 6.07%
Prime Location: Situated in a vibrant Long Beach neighborhood, near schools, parks, dining, and the beach
This property offers a rare opportunity to acquire a high-performing asset with substantial upside potential. Whether you’re an experienced investor or looking to expand your portfolio, 826 Rose Ave is an opportunity worth exploring.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR2N
Rooms
Ensuite Laundry See Remarks, Stacked
Interior
Laundry Location See Remarks,Stacked
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
Parking Type Assigned
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
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