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3600 Santa Fe Avenue, Long Beach, CA 90810

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Listing Type
single family
Listing Status
active
16
Overview
Features
Commute
Transportation
Market Statistics
Neighborhood
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$3,595,000

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Home Details for 3600 Santa Fe Avenue

Price
$3,595,000
Type
single family
Year Build
1911
Sq. Ft.
8,096
Lot Size
0.38
County
Los Angeles
Garage
0
On exitrealty.com
71 days
MLS Listing#
SB20149089

Property Description

Beautifully renovated, 21-unit Cash Cow located at 3600 Santa Fe Ave., Long Beach. Offering an astounding 6.14% Cap Rate on current rents, Santa Fe Ave. is an ideal pickup for any exchange buyer or investor looking for a low maintenance, high return investment. The property is comprised of (18) Studios, (1) 1-Bed/1-Bath, & (2) Commercial Spaces currently being occupied by a Barber Shop and Liquor Store. Each of the (19) Residential Units have all been renovated and are receiving top of the market rents! Santa Fe Ave. has undergone a partial Copper Re-pipe as well as adding in multiple new hot water heaters. To the benefit of the new owner, (8) of the residential units have guaranteed rens, helping to keep one of the strongest Cap Rates on the market. Additionally, there are (2) Storage spaces and (12) parking spaces at the rear of the property bringing in $350 a month, as well as on-site laundry bringing in an extra $15 a month. The current owner has also implemented a RUBS Program and has also enforced the Liquor Store to bill back partial property taxes, which combine to add an additional $918 a month. This property is an absolute steal! At only $172K Per Unit and at a current 6.14% Cap Rate, this property will not last on the market long.
EXIT CASTILLO REALTY
418 W. 3rd St., Oxnard, CA 93030
Licensed in the state of California.
$3,595,000

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EXIT CASTILLO REALTY
418 W. 3rd St., Oxnard, CA 93030
Licensed in the state of California.
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