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1108 Termino Avenue

Long Beach, CA 90804
  • $4,699,999
  • STATUS: Active
  • ON SITE: 18 Days
  • ID#: OC22160589
UPDATED: 55 min ago
$4,699,999
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1986
County:

School Ratings & Info

Listing Agent(s): Ruben Khorsandi of Alliance Investment Re Group (949-250-0400)


Description

We are pleased to present the Termino Apartments which is a highly sought-after 1986 property in the popular Eastside submarket of Long Beach--only minutes from the beach/water, Ocean Blvd., Belmont Shore and Naples Island! This turnkey asset features 10 LARGE (averaging over 1,000 square feet each) ALL TWO BEDROOM condo-style apartments. These oversized airy units all offer balconies and the upstairs units all have vaulted ceilings. The property was recently renovated in 2021 along with a newer roof that comes with a lifetime guarantee and professionally installed new decking throughout with water drains for optimal drainage. Property has five, 8x4 storage sheds that can be rented for extra income and a 4K Ultra (8mp) security camera system throughout the entire property to provide extra safety and security for tenants. There are individual water heaters in each unit and the property is also individually metered for gas and electric which keeps operating expenses low. Additional income is also generated with laundry machines that are owned and there is potential to increase income by renting out the additional 15 parking spaces in the gated garage. The building is secured with locked entrances and an intercom system to allow visitors in. Lastly, there is rental upside for an investor to increase rents and cash flow even more. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T11:29:53.567. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
www.amayarealestategroup.com/homes/131128470
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1108 Termino Avenue Long Beach, CA 90804

  • Price: $4,699,999
  • Status: Active
  • On Site: 18 Days
  • Updated: 55 min ago
  • ID#: OC22160589
0
Beds
0
Baths
0
½ Baths
0.2
Acres
1986
Built
Neighborhood:
Eastside (Es)
County:
Los Angeles
Area:
3 - Eastside, Circle Area
Property Description
We are pleased to present the Termino Apartments which is a highly sought-after 1986 property in the popular Eastside submarket of Long Beach--only minutes from the beach/water, Ocean Blvd., Belmont Shore and Naples Island! This turnkey asset features 10 LARGE (averaging over 1,000 square feet each) ALL TWO BEDROOM condo-style apartments. These oversized airy units all offer balconies and the upstairs units all have vaulted ceilings. The property was recently renovated in 2021 along with a newer roof that comes with a lifetime guarantee and professionally installed new decking throughout with water drains for optimal drainage. Property has five, 8x4 storage sheds that can be rented for extra income and a 4K Ultra (8mp) security camera system throughout the entire property to provide extra safety and security for tenants. There are individual water heaters in each unit and the property is also individually metered for gas and electric which keeps operating expenses low. Additional income is also generated with laundry machines that are owned and there is potential to increase income by renting out the additional 15 parking spaces in the gated garage. The building is secured with locked entrances and an intercom system to allow visitors in. Lastly, there is rental upside for an investor to increase rents and cash flow even more. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
Exterior Features

Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 10 Parking Total 15 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.7 Common Interest Community Apartment Community Features SidewalksUrban Electric Expense 2388 Fuel Expense 0 Garage YN Yes Gross Income 12000 Gross Scheduled Income 273024 Insurance Expense 3556 Land Lease YN No Laundry Features Common AreaLaundry Room Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Net Operating Income 219830 New Construction YN No Number Of Separate Gas Meters 10 Number Of Separate Water Meters 1 Number Of Units Leased 10 Operating Expense 65194 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All UtilitiesElectricityGas Total Actual Rent 23253 Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Lbr2n



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T11:29:53.567. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
 
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Nest Real Estate
21804 Cactus Ave ste 101
Riverside CA, 92518
Listing Agent(s): Ruben Khorsandi of Alliance Investment Re Group (949-250-0400)