424 West. 9th St., Long Beach, CA 90813 - SB21001212 - iPro Real Estate
iPro Real Estate

iPro Real Estate

424 West. 9th St.
Long Beach, CA 90813

Expired, Multi-Family/Income Sale

For Sale

$1,525,000 $371.41 per sqft

Free Professional CMA

Listing ID : CRSB21001212

  • Lot Size

    4,106 Sqft
  • Year

    1904

Description

424 9th St is a great opportunity to own in Downtown Long Beach without a market setting price per unit or huge down payment. Listed at 190k a door and over a 5% CAP rate, this is well maintained property that's easy to manage. Tenants enjoy the close proximity to dining and shopping options, which has led to an average length of tenancy of 5 years! The subject property also offers upside as the Willmore District and Downtown are revitalizing the look to attract young professionals and have already started with an estimated $3.5 billion under construction. All tenants are currently up to date.

Details

Type: Multi-Family/Income Sale 
Subdivision: 4 - Downtown Area, Alamitos Beach 
County: Los Angeles 
Tax ID: 7272015016
Cap Rate: 4.80% 
Gross Rent Multiplier: 13.19 
Laundry: Other 
Number of Buildings: 2 
Number of Units: 8 
Property Type: Commercial Sale 
View: City Lights 
Water: District - Public 

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Interactive

33.7775 -118.19709 $1,525,000 SB21001212
424 West. 9th St., Long Beach, CA 90813
Directions to here from:

Area Information 90813

Population:

59,544 Up .02% since 2010
Average Income:
$50,143
Average Age:
29Years
Gender:
50.04%Male
49.96%Female
Households:
16,70546.83% with children
Average Value:
$694,468
Occupancy:
12.09%Owned
87.91%Rented
8.1%Vacant
Education:
24.17%High School
5.56%Associate
7.92%Bachelor
2.76%Graduate
Average Residency:
19Years
Crime Rate:
Above Average
Annual Rainfall:
12.93Inches
Earthquake Risk:
Very High
Hurricane Risk:
Very Low
Ozone Risk:
Average
Pollution Risk:
Average
Tornado Risk:
Average

History

Date Transaction Price Mortgage Amt & Lender
Date
Oct 06, 2022
Transaction
Sold - Commercial Multi-Residential (5+ units)CRSB18254443
Price
$1,400,000
Mortgage Amt & Lender
- -
Date
Aug 12, 2022
Transaction
Sold - Commercial Multi-Residential (5+ units)CRSB22093595
Price
$1,577,000
Mortgage Amt & Lender
- -
Date
Jun 04, 2021
Transaction
Expired - Commercial Multi-Residential (5+ units)CRSB21001212
Price
$1,525,000
Mortgage Amt & Lender
- -
Date
Jun 08, 2019
Transaction
Expired - Commercial Multi-Residential (5+ units)CRP451870
Price
$769,000
Mortgage Amt & Lender
- -

Mortgage Calculator

Listed by Stephen Takahashi with Lyon Stahl Investment Real Estate, Inc.

Based on information from the MLSListings MLS) as of 12/10/2022. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than iPro Real Estate are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents. Based on information from the MLSListings MLS) as of 12/10/2022. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. ©2022 MLSListings Inc. All rights reserved. Data updated approximately every 30 minutes