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2035 Lemon AVE Long Beach, CA 90806
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Key Details
Sold Price $1,115,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Other (Othr)
MLS Listing ID TR21037882
Sold Date 05/25/21
Construction Status Turnkey
HOA Y/N No
Year Built 1960
Annual Tax Amount $12,200
Tax Year 2020
Lot Size 6,534 Sqft
Property Description
Well maintained 5-units income property located on a nice residential street. Great mix comprised of a spacious (1) 2bed/2ba 1510 SF house built in 1919 and (4) 1bed/1ba apartment building built in 1960. House has formal Living, Dining and Family Rooms, open Kitchen with granite countertops, direct access to 1 car garage. Periodic updates for house include central air, hardwood and tile floors, newer roof and windows. The four apartment units each has formal living room, spacious bedroom, and kitchen with dining area. Two of the units recently remodeled with new kitchens, granite counters and cabinets, bathrooms with new fixtures, new water heaters and laminate flooring. Each unit is individually metered for electricity and gas. Backyard has new wrought iron gate. 1 car garage plus two parking spaces in rear, additional parking in the driveway and street parking. All units are rented with tenants paying full rent. Low operating expenses with upside rent to achieve more income and additional value. 4.63% CAP at current rents, 6.31% CAP with pro forma rents. Fantastic turnkey investment opportunity. Buyer to conduct own due diligence. Please do not disturb tenants.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR1N
Interior
Interior Features Granite Counters
Flooring Carpet, Laminate, Tile, Wood
Fireplace No
Appliance Free-Standing Range, Disposal, Range Hood, Water Heater
Laundry Laundry Room, See Remarks
Exterior
Garage Spaces 1.0
Garage Description 1.0
Fence Block
Pool None
Community Features Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Water Connected
Total Parking Spaces 3
Private Pool No
Building
Lot Description Front Yard
Sewer Public Sewer
Water Public
New Construction No
Construction Status Turnkey
Others
Senior Community No
Tax ID 7210022020
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with Maria Sarmiento • West Foothills Market Center Inc