1562 W 31st St - Apartments FOR SALE


Long Beach, CA 90810- Westside Long Beach
$1,299,000 USD
310-248-0272
1562 W 31st St, Long Beach, CA for Sale
$1,299,000 USD
Apartments - FOR SALE
1/15
null | 9.41% Cap Rate

1562 W 31st St
Long Beach, CA 90810
Westside Long Beach


HIGHLIGHTS

  • Private units
  • Lots of Natural light

OVERVIEW

This well-maintained 4-unit property offers an excellent investment opportunity in a prime location near Silverado Park, the 710 and 405 freeways, as well as local restaurants and hospitals. The front house features 2 bedrooms and 1 bath, with sleek granite countertops, stainless steel appliances, tile flooring in the kitchen and living areas, and original hardwood floors in the bedrooms. Recently upgraded with a new roof and new solar panels, this home is energy-efficient and move-in ready. The back units consist of two 2-bedroom, 1-bath units, one 1-bedroom, 1-bath unit, and a bonus studio—ideal for additional rental income or as a guest suite. All units are thoughtfully updated and meticulously maintained. The backyard offers a peaceful space with mature trees, while the front home enjoys its own private area for added privacy. Shared outdoor patio spaces provide a relaxing setting for entertaining. Located in a desirable Westside Long Beach neighborhood, this property presents a fantastic opportunity for investors seeking modern updates, convenience, and long-term value.The rumpus room and front and upper unit sq ft should be 2,138 ft. The property is well-maintained but sold as-is. Buyers may assume the existing mortgage at 2.5% if they will occupy the property.The back lower 2-bedroom unit and the studio are unpermitted, while the 1-bedroom unit was originally permitted as a rumpus room. The owner is currently working on plans to convert the unpermitted units and will be submitting them to the city for approval. The back upper unit is currently being rented as an Airbnb, generating approximately $4,000-$5,000 per month.All units can be delivered vacant, with the exception of the back downstairs 2-bedroom unit.Buyers and agents are responsible for conducting their own due diligence and investigations regarding public records, special assessment taxes, zoning, and permits. The agent and broker make no assurances regarding the square footage, permits, or any other material facts about the property. Solar panels are assumable and the payment is between $350-400 per month

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$608 USD /SF

# OF UNITS

4

PRICE/UNIT

$324,750

CAP RATE

9.41%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1938

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

-

APN/PARCEL ID

7312-028-005

ASK ABOUT THIS PROPERTY

John De Jesus Hernandez-BallKeller Williams South BayMore Info
310-248-0272

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John De Jesus Hernandez-BallKeller Williams South BayMore Info
310-248-0272

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.