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1017 E Rhea Street

Long Beach, CA 90806
  • $825,000
  • STATUS: Active Under Contract
  • ON SITE: 44 Days
  • ID#: PW21231734
Under Contract
UPDATED: 89 min ago
$825,000
  • 5
    BEDS
  • 0.14
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 1,558
    SQFT
  • $530
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1953
County:

School Ratings & Info

School District:
Listing Agent: Gustavo Arias of First Team Real Estate


Description

This triplex consist of front house 3 bedrooms 2 bath with attached garage and two one bedroom one bath units in the back. The roof was redone 2011 with 30 years lasting materials. the front house bathrooms and kitchen had been recently upgraded. Each unit enjoy a private patio and their ow private access. The kitchen of 1021 was also upgraded about 2 years ago. All tenants are paying rent and they are up to date. A long car path provide additional parking for several cars. The new owner has a tremendous upside opportunity current CAP rate 4.08% proforma CAP 5.6%. Close to schools, restaurants, transportation, and major employers. Great opportunity for an investor to increase their portfolio with a solid investment or for a buyer that would like to live in one unit and use the rental income to help with the mortgage.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T08:25:12.213. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Swack Real Estate Group | Keller Williams Realty Central Coast. Licensed in the State of California, USA.
www.swackrealestategroup.com/homes/122584413
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1017 E Rhea Street Long Beach, CA 90806

  • Price: $825,000
  • Status: Active Under Contract
  • On Site: 44 Days
  • Updated: 89 min ago
  • ID#: PW21231734
5
Beds
4
Baths
0
½ Baths
0.14
Acres
1,558
SQFT
$530
$/SQFT
1953
Built
Neighborhood:
Poly High (Ph)
County:
Los Angeles
Area:
9 - Poly High
School District:
Long Beach Unified
Property Description
This triplex consist of front house 3 bedrooms 2 bath with attached garage and two one bedroom one bath units in the back. The roof was redone 2011 with 30 years lasting materials. the front house bathrooms and kitchen had been recently upgraded. Each unit enjoy a private patio and their ow private access. The kitchen of 1021 was also upgraded about 2 years ago. All tenants are paying rent and they are up to date. A long car path provide additional parking for several cars. The new owner has a tremendous upside opportunity current CAP rate 4.08% proforma CAP 5.6%. Close to schools, restaurants, transportation, and major employers. Great opportunity for an investor to increase their portfolio with a solid investment or for a buyer that would like to live in one unit and use the rental income to help with the mortgage.
Exterior Features

Architectural Style Spanish Attached Garage YN 1 Construction Materials Stucco Foundation Details Combination Lot Features 2-5 Units/Acre Parking Features DrivewayGarage Parking Total 1 Patio And Porch Features OpenPatio Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Mixed Spa Features None Spa YN No View None View YN No

Interior Features

Accessibility Features Other Appliances Gas Range Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring Tile Heating Wall Furnace Heating YN Yes Interior Features Granite CountersLaminate CountersSolid Surface CountersAll Bedrooms Down Main Level Bathrooms 4 Main Level Bedrooms 5

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features Suburban Disclosures City Inspection Required Electric Standard Exclusions Tenants Personal Items Garage YN Yes Inclusions Stoves Land Lease YN No Laundry Features See Remarks Lease Considered YN No Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 Exchange New Construction YN No Property Condition Repairs Cosmetic Property Sub Type Triplex Security Features Smoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Structure Type Triplex Utilities Natural Gas ConnectedSewer ConnectedWater Connected Water Source Public Zoning Lbr1n



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T08:25:12.213. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Swack Real Estate Group | Keller Williams Realty Central Coast. Licensed in the State of California, USA.
 
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Swack Real Estate Group | Keller Williams Realty Central Coast
1851 Shell Beach Road Ste B
Shell Beach CA, 93449
Listing Agent: Gustavo Arias of First Team Real Estate