826 Rose Avenue
Description
Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU. FOR SALE: $1,850,000 – Owner’s Loss, Investor’s Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating...Prime 5-Unit Multifamily Investment Opportunity in Long Beach
Introducing 826 Rose Ave, a fully renovated triplex in the heart of Long Beach, currently generating $6,185 per month in rental income. With an annual cash flow of $78,600, this property offers immediate returns with future growth potential through a fully approved expansion 2 unit ADU. FOR SALE: $1,850,000 – Owner’s Loss, Investor’s Gain: Due to funding requirements for another project, the owner must sell this valuable asset, creating a unique opportunity for investors. Additional Expansion Opportunity with 2 Fully Permitted ADU Plans:
The property includes fully permitted, shovel-ready plans for two additional ADU units (each a 2-bed, 2-bath, 2-story design) at an additional cost to construct of $434,000, which will transform this triplex into a 5-unit multifamily property with a proforma annual cash flow of $140,000 upon completion and an estimated cap rate of 6.07%. Property Highlights:
• Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually). Property Highlights:
• Current Units: 3 fully renovated units $6,185 monthly rental income ($78,600 annually) • Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space. • Future Expansion: Includes fully permitted plans for two new ADU units, adding 1,584 sq. ft. of living space • Construction Company: After evaluating estimates from three qualified contractors, we selected the best fit based on quality and value. Each bid projected a similar build time of eight months. To ensure thorough vetting, we partnered with BuildZoom, who reviewed all proposals, helped reduce additional costs, and confirmed we hired the optimal contractor. BuildZoom also closely collaborated with the architect and design team to manage revisions and secure city approvals. BuildZoom also closely collaborated with the architect and design team to manage revisions and secure city approvals • Construction Ready to begin with a 8 month build timeline and total build cost of $434,000. • Construction Ready to begin with a 8 month build timeline and total build cost of $434,000 • Investment Potential: After completion, the property will offer 5 units, a projected ARV of $2.6M, proforma cash flow of $140,000 annually, and a cap rate of 6.07%. • Investment Potential: After completion, the property will offer 5 units, a projected ARV of $2.6M, proforma cash flow of $140,000 annually, and a cap rate of 6.07% • Prime Location: Situated in a vibrant Long Beach neighborhood, with easy access to schools, parks, dining, and the beach. This is a rare opportunity to acquire a high-performing investment property with significant upside potential. Whether you're a seasoned investor or looking to expand your portfolio, 826 Rose Ave is a must-see!
- Listed by Nicholas Gallyon • DRE #01999272 • Brokerage DRE #01516164 • Coldwell Banker Platinum Prop • 714.707.2990
Property Details for 826 Rose Avenue
Property Details for 826 Rose Avenue
| Status | Active |
|---|---|
| MLS # | OC24224912 |
| Days on Market | 47 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1923 |
| Lot Size | 0.14 AC / 5,905 SF |
| County | Los Angeles County |
Building Information for 826 Rose Avenue
Property Information for 826 Rose Avenue
- Tenant Pays: Cable TV, Electricity, Gas, Telephone
- Gross Income: $74,220
- Gross Scheduled Income: $74,220
- Net Operating Income: $58,953
- Cap Rate: 6.06
- Operating Expense: $15,267
- Insurance Expense: $1,527
- Trash Expense: $555
- Water Sewer Expense: $1,296
- Total Expenses: $15,267
- Tax Tract Number: 2983
- Tax Census Tract: 5764.03
- CFD/Mello-Roos Fee: $658
- Tax Lot: 5
- Community Features: Biking, Curbs, Dog Park, Fishing, Golf, Gutters, Park, Sidewalks, Storm Drains, Street Lights
- Laundry: Yes
- Laundry Features: Dryer Included, See Remarks, Stackable, Washer Included
- Security Features: Carbon Monoxide Detector(s), Security Lights, Security System, Smoke Detector(s)
- Roof: Spanish Tile
- Entry Location: Bottom and Top
- Fence: Yes
- Fence: Wrought Iron
- Fencing: Wrought Iron
- Property Condition: Turnkey, Updated/Remodeled
- Miscellaneous: Value in Land
- View Description: None
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- Walk Score: 90
- Lot Features: 2-5 Units/Acre, Near Public Transit, Value In Land
- Number Of Units: 3
- Land Lease: No
- Land Lease Type: Fee
- Road Surface Type: Alley Paved
- Road Frontage Type: City Street
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 3
- Parking: Yes
- Parking Garage: Assigned
- Parking Garage Spaces: 3
- Carport Spaces: 0
- Parking Features: Assigned
- Builders Tract Name: Other
- Builders Tract Code: Other (OTHR)
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,990
- Unit Type Total Rent: $1,990
- Unit Type Pro Forma: 2300
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,795
- Unit Type Total Rent: $1,795
- Unit Type Pro Forma: 2400
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $2,450
- Unit Type Total Rent: $2,450
- Unit Type Pro Forma: 2500
- Unit Type Type: 3
- Number Of Units Leased: 3
- Rent Controlled: No
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 3
- Number Of Separate Gas Meters: 3
- Number Of Separate Water Meters: 0
- Number With Dishwasher: 3
- Number With Range: 3
- Number With Refrigerator: 3
- Number With Disposal: 3
- Number With Patio: 3
Property History for 826 Rose Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 826 Rose Avenue
Schools near 826 Rose Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Burbank Elementary School PublicK to 5 | ||
Franklin Classical Middle School Public6 to 8 | ||
Polytechnic 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.
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Listing Courtesy of Coldwell Banker Platinum Prop, Nicholas Gallyon, DRE #01999272
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.