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Guadalupe Vallejo

g.vallejohomes@gmail.com +1(661) 877-0272

$1,100,000

Est. payment - /mo

5,858 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID PW26180123

HOA Y/N No

Year Built 1953

Lot Size 5,858 Sqft

Property Sub-Type Quadruplex

Property Description

92 E. Louise Street presents the opportunity to acquire a well- maintained four-unit multifamily property offering strong in-place cash flow, meaningful rental upside, and additional long-term value creation potential in North Long Beach. Built in 1953, the property consists entirely of two-bedroom/one- bath units, each approximately 740 square feet, providing a highly desirable and consistent unit mix with broad renter appeal. Current rents average approximately $2,138 per month, compared with nearby rent comparables averaging approximately $2,538 per month, demonstrating substantial embedded rental upside. The property has also benefited from several significant capital improvements, including new windows throughout the building, recent re-piping, exterior painting within the past three years, and a new electronic security gate. These improvements reduce near- term capital expenditure exposure while enhancing the property's overall functionality and tenant appeal. The property's four detached garages and additional surface spaces present the opportunity to add immediate income through parking fees or convert garages to ADUs for future additional rental income (buyer to verify).The offering compares favorably with recent four-unit sales in the surrounding market. At $275, 000 per unit, 92 E. Louise is priced below the comparable-set average of approximately $306,750 per unit, while offering a substantially stronger going-in yield than the comparable average cap rate of approximately 5.32% For investors seeking strong current yield with identifiable upside, 92 E. Louise Street offers a compelling combination of in-place cash flow, below-market rents, an all-two-bedroom unit mix, recent capital improvements, and potential future ADU development—all at a basis below recent comparable four-unit sales.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7126029010

Energy Description 585.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379

NEARBY SCHOOL & BUSINESS

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92 E Louise Long Beach, CA 90805