870 W 19th Street,Long Beach, CA 90806
Long Beach, CA 90806
Description
We are pleased to present 870 W 19th Street, a 7 unit multifamily investment opportunity located on a corner lot in a quiet, family-oriented residential community of Long Beach. Built in 1953, this two-story, walk-up style apartment building features a well-balanced unit mix consisting of four (4) one-bedroom/one-bathroom units and three (3) two-bedroom/one-bathroom units. Encompassing approximately 5,100 rentable square feet on a 6,565 square foot lot, the property includes three (3) garages currently used for storage, offering potential for future ADU conversion, five surface parking spaces, and the on-site laundry facility provides an additional income stream. The property has undergone significant capital improvements, including new windows, exterior paint, upgraded balcony railing, water heater, and a roof replacement in 2016. The property presents a unique opportunity to acquire a well-maintained pride of ownership building with over 25% rental upside potential while offering low operating expenses, strong in-place income, and future upside through rental repositioning in the high demand rental market of Long Beach.
Details
| MLS# | 25534083 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1953 |
| Days On Site | 16 |
| Listing Provided By | Matthews Real Estate Investment Services 866-889-0550 | Kamfar Kyle Mirrafati |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 7 |
| SQ Feet | 5,100 |
| Garage | 3 |
| Story(s) | 2 |
| Units | 7 |
| Building(s) | 1 |
| Zoning | LBR1N |
| Acreage | 0.15 |
Market Activity 90806
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90806 |
| Area | 5 Wrigley Area |
| Listing VS Median (in 90806) | |
Price: $1,625,000 low | high Med: $874,988 SqFt: 5,100 low | high Med: 1,932 $ / SqFt: $319 low | high Med: $453 On site: 16 low | high Med: 7.000000 | |