826 Rose Avenue
Long Beach, CA 90813
Active for $1,850,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 5,905 sqft
| MLS | OC24224912 |
| Year Built | 1923 |
| Property Type | Triplex |
| County | Los Angeles |
| Status | Active |
| Active | $1,850,000 |
| Structure Size | N/A sqft |
| Lot Size | 5,905 sqft |
| Beds | N/A |
| Baths | N/A |
Description
Prime 5-Unit Multifamily Investment Opportunity in Long Beach Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU. FOR SALE: $1,850,000 – Owner’s Loss, Investor’s Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors. Additional Expansion Opportunity with 2 Fully Permitted ADU Plans: The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%. Property Highlights: • Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually). • Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space. • Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on quality and value. Each bid projected a similar build time of eight months. To ensure thorough vetting, we partnered with BuildZoom, who reviewed all proposals, helped reduce additional costs, and confirmed we hired the optimal contractor. BuildZoom also closely collaborated with the architect and design team to manage revisions and secure city approvals. • Construction Ready to begin with a 8 month build timeline and total build cost of $434,000. • Investment Potential: After completion, the property will offer 5 units, a projected ARV of $2.6M, proforma cash flow of $140,000 annually, and a cap rate of 6.07%. • Prime Location: Situated in a vibrant Long Beach neighborhood, with easy access to schools, parks, dining, and the beach. This is a rare opportunity to acquire a high-performing investment property with significant upside potential. Whether you're a seasoned investor or looking to expand your portfolio, 826 Rose Ave is a must-see!
Listing information courtesy of: Nicholas Gallyon, Coldwell Banker Platinum Prop . *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
Location
Contact a Local Realtor®
Nesrin Karam
REALTOR®
Direct: 818.307.1989
Email: Email Me
DRE: 01983539
DRE #01873088
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