CA > Long Beach > Wrigley Area (Wr)
Long Beach, CA 90806,2247 Earl AVE
Long Beach, CA 90806,2247 Earl AVE
Long Beach, CA 90806,2247 Earl AVE
Long Beach, CA 90806,2247 Earl AVE
Long Beach, CA 90806,2247 Earl AVE
Long Beach, CA 90806,2247 Earl AVE
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$1,858,000

$1,850,000

0.4%
Est.Price: ?

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Est. payment /mo

5,898 Sqft Lot

SOLD DATE : 03/21/2023

Key Details

Sold Price $1,858,000

Property Type Apartment

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision Wrigley Area (Wr)

MLS Listing ID RS22234336

Sold Date 03/21/23

HOA Y/N No

Year Built 1955

Lot Size 5,898 Sqft

Property Sub-Type Apartment

Property Description

This is a unique opportunity to purchase a partially stabilized 7-unit asset in a core Southern CA market with real upside to a 6.37% cap rate. Current ownership has established a proven renovation plan by remodeling 4 out of 7 units and achieved market rents for only 57% of the building. Leaving an additional 29% upside in rents for a new owner to capitalize on. Some improvements include high end kitchen & bathroom remodels in four units, added mini split AC/heaters in two units, added in-unit washer dryers in two units, added in-unit sub panels in three units, installed artificial turf in front yard and added drought tolerant landscaping with drip new irrigation system. The building has a diverse unit mix comprised of (1) 2BD/1BA, (5) 1BD/1BA, (1) Studio units and (4) on-site garages.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Zoning LBR2N

Interior

Heating Combination, Wall Furnace

Flooring Vinyl, Wood

Fireplaces Type None

Fireplace No

Appliance Gas Range

Laundry Common Area

Exterior

Parking Features Door-Single, Garage

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks, Urban

Utilities Available Electricity Connected, Natural Gas Connected, Water Connected

Roof Type Composition

Total Parking Spaces 4

Private Pool No

Building

Lot Description Front Yard, Landscaped, Street Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7205019022

Energy Description 1302.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Financing Cash to New Loan

Special Listing Condition Standard

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Gatehouse Properties

Gatehouse Properties

+1(714) 743-9882

Our team is ready to help you sell your home for the highest possible price ASAP

CRMLS – RECore
Listed by Andrew McAllister Nationwide Real Estate Execs
Bought with Nina Le Buckingham Investments, Inc
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+1(714) 743-9882

info@gatehouseproperties.com

Costa Mesa, CA, 92626, United States

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