1216 E 56th, Long Beach, CA 90805
- $1,199,999
- List Price
- $1,199,999
- Status
- PENDING
- MLS#
- DW26145351
- Year Built
- 1965
- Lot Size
- 4,806
- Acres
- 0.11
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 7
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
- Stories
- Two Levels
- Neighborhood
- North Long Beach (Nlb)
Property Description
Great investment opportunity in Long Beach! This upgraded quadplex offers strong income potential with an approximate **7% cap rate** and **one unit currently vacant**, creating an ideal option for an owner-user or investor looking to place a new tenant at market rent. The property features **four total units**, with the remaining units occupied and income-producing. Recent improvements include an updated exterior, refreshed interiors in select units, modern finishes, and clean curb appeal. Each unit has dedicated parking, adding convenience and value for tenants. With solid rental income, recent upgrades, and upside potential through the vacant unit, this property is a great addition to any rental portfolio. Along with Community Laundry. Buyer to verify all rents, expenses, cap rate, permits, unit mix, and property details.
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Additional Information
- Pool Description
- None
- Heat
- Radiant
- Cooling Description
- None
- View
- None
- Garage Spaces Total
- 4
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $112,668
- Operating Expense
- 22878
Listing courtesy of Listing Agent: Christina Mercado (Christina@legacym.group) from Listing Office: Circle Real Estate.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.