101 W 9th StreetLong Beach, CA 90813

Description

Four-unit multifamily investment opportunity located near Downtown Long Beach. Built in 1918, this fourplex offers approximately 3,192 square feet of living space on a 2,505-square-foot lot. The property consists of four units originally configured as 1-bedroom, 1-bathroom residences, with two units featuring an additional bedroom each. The permit status of the additional bedrooms has not been verified. Three units are currently tenant-occupied, generating a combined monthly rental income of $5,800. The fourth unit is vacant, offering an opportunity for additional rental income. Estimated rental income for the vacant unit ranges from $1,800 to $2,000 per month, potentially bringing total gross monthly rental income to approximately $7,600–$7,800. Based on estimated annual operating expenses, including property taxes, insurance, utilities, and maintenance, the property currently generates an estimated Net Operating Income (NOI) of $41,374 annually, representing a 4.36% cap rate at the $950,000 asking price. This reflects the current rental income from three occupied units. If the vacant unit is leased at a projected $2,000 per month, the property could generate approximately $64,174 in annual pro forma NOI, representing a 6.76% pro forma cap rate, based on adjusted maintenance expenses. These estimates exclude vacancy allowances, property management, capital expenditures, and financing costs. Actual results may vary. Conveniently located near Downtown Long Beach, shopping, dining, and public transportation. Property is being sold strictly AS-IS, in its present condition. Seller makes no representations or warranties regarding property condition, square footage, permits, improvements, unit configurations, or rental income. Buyer to conduct their own independent investigations and verify all information to their satisfaction.

Property Information

Property type

Residential Income

Sub-type

Quadruplex

Year built

1918

Stories

2

Building area

3,192 Sq Ft

Lot size

0.06 acres

Days on market

4

MLS^® Listing#

SB26239242

Property Features

Pool

None

Parking

None

Laundry

Electric Dryer Hookup · Gas Dryer Hookup

Lot features

Corner Lot

Community

Curbs

Sewer

Public Sewer

Water source

Public

Financial Details

HOA

None

Parcel number

7273014017

Directions

Exit the 710 free way, south on Shoreline Dr, East on 7th st. North on Pine Ave