1465 W Parade Street Long Beach, CA 90810
Price Enhancement just lowered $55,000, owner is motivated to sell! Amazing value add opportunity knocks!! Huge potential for this Triplex, existing 2 bedroom 1 bath main front house 1465 Parade St. and (2) 1 bedroom 1 bath rear/ side units 1864 & 1866 Caspian St. combined with a total of 9 off st. parking spots/garage storage spaces. Check with the city and your contractor but believe this Property can make a easy garage conversion to additional 1+ bedroom ADU offering potential of $7000+ a month in gross rent or making it a 8.+ proforma CAP! Also perfect for an owner occupant as is, looking to live in the front house and continue to have great income from the back 2 detached units. The front house has a large fully fenced front yard and offers a oversized large front covered patio. The rear of the home opens off the kitchen laundry room and steps down into a relaxing private patio fully fenced from rear of driveway. The 1 bedrooms are both spacious with updated kitchens (5-6 years old) and a great floor plan with a rear door off the kitchen dining area that opens to individual back yards. The whole parcel sits on 7,234 sq ft and is situated on two lots with separate addresses and individually metered lots 31 and 32. Garage sits ideally detached between the front house and the rear 2 units, it is accessible directly from the driveway behind the gate, on one side for the main house on Parade and a separate 1 car garage is accessible from the Street on Caspian (currently rented to tenant). All 3 buildings have newer roofs, 6-8 years, the front house has all new copper plumbing and ABS main drain all the way to the street (approx.. 8 years old) Very low maintenance, great stable long term tenants make this a turn key investment for self management. Professional management fee omitted from expense but in place and available for new ownership if required. Call and submit your offers.
|4 days ago||Listing updated with changes from the MLS|
|a week ago||Price changed to $925,000|
|2 months ago||Listing first seen online|