2165 Earl Avenue

Long Beach, CA 90806

$1,380,000
Last Sold Price
8
Beds
4
Baths
3,769 Sq. Ft.
$366 / Sq. Ft.
3,769
Sq. Ft.
$366
per Sq. Ft.

Description

Great investor opportunity to acquire a well maintained 4 unit building located in the high demand South Wrigley Sub-Market of Long Beach. The building is a cash machine, has a 6.9% in place cap rate, a 7.2%+ ProForma Cap Rate, and is 100% leased. It contains (3) spacious 2 Bedroom / 1 Bathroom Units, and (1) very spacious 3 Bedroom / 1 Bathroom Unit. The building also has a detached garage complex containing (3) one car garages that can be used as storage if needed and fit one vehicle parked behind....Great investor opportunity to acquire a well maintained 4 unit building located in the high demand South Wrigley Sub-Market of Long Beach. The building is a cash machine, has a 6.9% in place cap rate, a 7.2%+ ProForma Cap Rate, and is 100% leased. It contains (3) spacious 2 Bedroom / 1 Bathroom Units, and (1) very spacious 3 Bedroom / 1 Bathroom Unit. The building also has a detached garage complex containing (3) one car garages that can be used as storage if needed and fit one vehicle parked behind. Three of the apartment have been remodeled within the last two years and the one remaining non-remodeled unit gives the new owner and opportunity to remodel, add value, and bring up to market rent. The property is located in close proximity to schools, banks, shopping centers, public transit, and easy freeway access. It is within walking distance of Long Beach Poly High, and only 2.1 miles from Downtown Long Beach. The area boats strong rental demand and all vacancies have been easily filled at market rent with multiple applicants coming forth.
  1. Listed by KC James Dorame • DRE #02019663 • Brokerage DRE #01844416 • Allure Capital Management Corp
  2. Listed by Joseph Daurio • DRE #01992950 • Brokerage DRE #01844416 • Allure Capital Management Corp

Property Details for 2165 Earl Avenue

Zoning
LBR2N
Parcel Number
7205030011
Total Units
4.0
Living Area
3769
Source Living Area
Vendor Enhanced
Area
Wrigley Area (5)
Vacancy Rate
0%
Lot Size Area
6274
LISTING UPDATED: 10/16/2024 09:50 PM

Property Details for 2165 Earl Avenue

StatusSold
MLS #24-423989
Days on Market46
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1929
Lot Size0.14 AC / 6,274 SF
CountyLos Angeles County

Building Information for 2165 Earl Avenue

Stories2Residences-Year Built1929Building Size-Lot Size0.14 AC / 6,274 SF

Property Information for 2165 Earl Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • Security Features: None
  • Water: District
  • ADA Compliance: No
  • Additions Alterations: No
  • Water Heater Features: Central Water Heater
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $118,896
  • Net Operating Income: $95,309.00
  • Gross Income: $118,896
  • Cap Rate: 6.90%
  • Gross Rent Multiplier: $11.56
  • Total Annual Expense: 23587
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Lot Acreage: 0.144
  • Lot Size Square Feet: 6274
Parking Details
Parking Details
  • Parking Garage: Detached, Garage Is Detached, Private Garage, Tandem
  • Total Parking: 8
  • Parking Features: Private, Tandem Garage
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s), Electric
  • Cooling Type: Wall/Window, Window Unit(s), Air Conditioning, Electric
  • Heating: Wall Furnace
  • Heating Type: Wall, Wall Electric
  • Equipment: Ceiling Fan, Dishwasher, Garbage Disposal, Microwave
  • Interior Features: Ceiling Fan(s)
  • Laundry: Room, Outside, Community, Laundry Area
  • Laundry Equipment: Lease
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Patio Features: None
  • New Construction: No
  • Foundation Details: Raised
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-26-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $430,981.00
  • Assessed Improvement Percent: 40.59
  • Assessed Land Value: $630,706.00
  • Assessed Land Percent: 59.41
  • Assessed Total Value: $1,061,687.00

Property History for 2165 Earl Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2165 Earl Avenue

Taxable ValueLand$643,320Additions$439,600Total$1,082,920
Tax Record2024$14,370 ($1,197 / month)
Home Facts
Total Finished SqFt3,769 SqFtAbove Grade Finished SqFt3,769 SqFtLot Size6,274 SqFtStyleQuadraplexYear Built1929ZoningLBR2NCountyLOS ANGELESAPN7205-030-011

Schools near 2165 Earl Avenue

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Robinson Academy
PublicK to 8

Polytechnic High School
Public9 to 12

Educational Partnership High School
Public9 to 12

Clear Passage Educational Center
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Allure Capital Management Corp, KC James Dorame, DRE #02019663; Allure Capital Management Corp, Joseph Daurio, DRE #01992950

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.