1148 Stanley AVE, Long Beach, CA 90804
1148 Stanley AVE, Long Beach, CA 90804
1148 Stanley AVE, Long Beach, CA 90804
1148 Stanley AVE, Long Beach, CA 90804
1148 Stanley AVE, Long Beach, CA 90804
1148 Stanley AVE, Long Beach, CA 90804
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Candice Culen

Candice Culen

+1(877) 976-5348
$ 2,295,000
Est. payment | /mo

16 Beds

16 Baths

6,240 SqFt

Save
$ 2,295,000
Est. payment | /mo
Save

16 Beds

16 Baths

6,240 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,240 sqft

Price per Sqft $367

MLS Listing ID 26825273

Bedrooms 16

HOA Y/N No

Year Built 1986

Lot Size 6,625 Sqft

Property Description

PRICED TO SELL - 10X GRM AND 6.5% CAP AT MARKET RENTS for 1980's construction in Long Beach. Earn over a 8% Cash on Cash Return. 8 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.0% total). Built in 1987 the property is professionally managed and well maintained. Building was recently painted as well. All units are 2 bed/2bath and have updated kitchens, baths and flooring. 12 onsite parking for 8 units as well as onsite laundry. This property is perfect for someone looking for a low management asset. It also has approx. 14% rental upside to a 10 GRM and 6.7% CAP at market rents. There is onsite laundry onsite. The electrical is Siemens - it's a 200 AMP main panel with 60 AMP subpanels (Buyer to verify). Plumbing is copper (Buyer to verify). Qualified Buyers can obtain a 5 year loan fixed at 5.05%, Interest Only. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. And the city just approved a $38MM update of the Long Beach airport for the upcoming 2028 Olympics.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned

Garage Spaces 12.0

Garage Description 12.0

Total Parking Spaces 12

Building

Story 1

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 7260029019

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Jonathan Swire The Agency #01336277

NEARBY SCHOOLS & PROPERTIES

Candice Culen

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(877) 976-5348

info@yrealtyinc.com

3020 Old Ranch Parkway Suite 250, Seal Beach, CA, 90740, US

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Y Realty, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

1148 Stanley AVE