2652-2706 East 15th Street

Long Beach, CA 90804

$4,600,000
Price
1
Beds
20
Baths
7,440 Sq. Ft.
$618 / Sq. Ft.
7,440
Sq. Ft.
$618
per Sq. Ft.

Description

2652 E. 15th Street is a 20-unit asset, located in the Zaferia Design District in Long Beach, California. The property is comprised of (18) 1BD/1BA and (2) studio units. Spread across a 21,717 square foot lot, the property has 15 surface parking spaces and two laundry rooms on site for additional income. Priced at a 5.14% cap rate & 11.91 GRM, new ownership can stabilize the asset at a 6.09% cap rate and 10.61 GRM.2652 E. 15th Street is a 20-unit asset, located in the Zaferia Design District in Long Beach, California. The property is comprised of (18) 1BD/1BA and (2) studio units. Spread across a 21,717 square foot lot, the property has 15 surface parking spaces and two laundry rooms on site for additional income. Priced at a 5.14% cap rate & 11.91 GRM, new ownership can stabilize the asset at a 6.09% cap rate and 10.61 GRM.
  1. Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916

Property Details for 2652-2706 East 15th Street

Parking Spaces Total
15
Private Pool
No
Total Units
20.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
7440
Assessor Parcel Number
7260-017-019
Property Attached YN
true
LISTING UPDATED: 08/30/2024 02:41 AM

Property Details for 2652-2706 East 15th Street

StatusActive
MLS #PW23229203
Days on Market362
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1929
Lot Size0.50 AC / 21,717 SF
CountyLos Angeles County

Building Information for 2652-2706 East 15th Street

Stories1Residences-Year Built1929Building Size-Lot Size0.50 AC / 21,717 SF

Property Information for 2652-2706 East 15th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $374,512
  • Gross Scheduled Income: $386,095
  • Net Operating Income: $236,296
  • Gross Multiplier: 11.91
  • Cap Rate: 5.14
Expense Details
  • Operating Expense: $138,216
  • New Taxes Expense: $57,819
  • Gardener Expense: $2,033
  • Fuel Expense: $5,920
  • Licenses Expense: $1,500
  • Pest Control Expense: $1,092
  • Electric Expense: $5,920
  • Insurance Expense: $11,238
  • Maintenance Expense: $14,000
  • Professional Management Expense: $20,853
  • Other Expense: $6,000
  • Other Expense Description: Reserves
  • Trash Expense: $5,920
  • Water Sewer Expense: $5,920
  • Total Expenses: $138,216
Tax / Assessment Info
  • Tax Tract Number: 1577
  • Tax Census Tract: 5751.02
  • Tax Lot: 75
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Individual Room
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Additional Parcels Description: 7260017018
  • Lot Features: 16-20 Units/Acre
  • Number Of Units: 20
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 15
  • Open Other Spaces Total: 15
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Eastside
  • Builders Tract Code: Eastside (ES)
Unit Information
Unit 1
  • Unit Type Units Total: 18
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,592
  • Unit Type Total Rent: $28,656
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,395
  • Unit Type Total Rent: $2,790
  • Unit Type Pro Forma: 1499
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 0
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1

Property History for 2652-2706 East 15th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 2652-2706 East 15th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Lee Elementary School
PublicK to 5

Jefferson Leadership Academies School
Public6 to 8

Wilson High School
Public9 to 12

Richard D. Browning High
Public9 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.

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2652-2706 East 15th Street is a mixed use property for sale in Long Beach, CA 90804. This property was listed for sale on December 21, 2023 by Keller Williams - Santa Monica, it's currently listed at $4,600,000. This listing's school district is Long Beach Unified School District. Nearby schools include Lee Elementary School, Jefferson Leadership Academies School and Wilson High School. 2652-2706 East 15th Street is a 1-bed, 20-bath, 7,440 sqft mixed use property built in 1929.

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 Keller Williams - Santa Monica, Robert Stepp, DRE #01456379

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.