Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Address: 4505 E 4th Street
County: Los Angeles
City: Long Beach
Neighborhood: 2 - Belmont Heights, Alamitos Heights, Belmont Heights (bh)
Pool Features: None
The best price and Gross Rent Multiplier on the market in the area at 15.2 GRM. These brand new buildings require little to no repairs, as this is a rare owner-user or investment opportunity to own three separate homes on a lot in Belmont Heights. This like-new property is within walking distance to the Colorado Lagoon, Marina Vista Park, Recreation Golf Course, and all of the shops and eateries along 4th Street.
While the original structure was built in 1919, the front house has been gorgeously renovated, including new flooring, new paint, fully remodeled kitchen and bathrooms, tons of improvements to the major systems, and even a finished basement.
The two homes in the rear are brand new construction that were just completed in September 2020, each being large 1 bed, 1 bath freestanding structures. Both of the rear homes include air-conditioning, washer and dryer, outdoor space, and garage parking.
As an owner-user, the strong rents provide upside by lowering your monthly payments, while giving you the luxury of picking your neighbors.
As an investor, the location, lifestyle, and income this property generates are hard to ignore. This investment is sure to appeal to a wide base of high-quality tenants that will pay strong rents to live in a brand new home in the highly-sought after Belmont Heights neighborhood.
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