About
Presenting an exceptional investment opportunity, this meticulously renovated triplex, situated at 1147 Ximeno Avenue in Long Beach's coveted Eastside neighborhood, showcases a front 3BR 2BA house and two 1BR/1BA units, offering immediate income potential. Crafted in 1923 and tastefully refurbished by the Avi Ross Group, this property seamlessly merges classic bungalow charm with contemporary amenities. The front house reveals an inviting, open-concept design, adorned with restored original hardwood floors, echoing California's rich heritage. The modern kitchen, equipped with stainless steel appliances and quartz countertops, seamlessly integrates a breakfast bar into the dining and living areas. Luxurious, fully renovated baths embody the timeless elegance of the home. Boasting $102,217 in gross rental income annually, this turnkey property delivers a robust $8,510 monthly cash flow, presenting a 5,16% cap rate.
With tenants already in place, this investment opportunity ensures immediate returns, offering a hassle-free transition for savvy investors. Additionally, the property offers potential for further income growth by adding an Accessory Dwelling Unit (ADU) in the rear building. The existing plumbing facilitates an easy conversion, further enhancing the investment potential. Conveniently located in the heart of Long Beach, this residence is just around the corner from Recreation Park, granting easy access to Cal State Long Beach, 2nd Street, and the nearby Traffic Circle retail area.
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Overview
- Price: Listed at $1,499,000
- Living Space: 2289 Sq. Ft.
- Bedrooms: 5
- Baths: 4
- Lot Size: 0.13 Acres