219 E 10th ST Active Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90813
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,836 sqft
Price per Sqft $347
MLS Listing ID 24371729
Bedrooms 6
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1909
Lot Size 5,749 Sqft
Acres 0.132
Property Description
Rare Multifaceted High-Revenue Mixed-Use Property with Vast Upside Potential in Long Beach! Dive into this diversified investment, a mixed-use property yielding strong revenue with upside potential and preliminary redevelopment concept plans. Nestled in an evolving Long Beach neighborhood, this compelling asset covers two lots with separate APN's, merging lucrative commercial operations with updated residential spaces for a dynamic revenue stream. The front building features two retail store fronts on the ground level, and upstairs a three bedroom apartment features dual primary sized rooms with a common bathroom. The rear duplex qualifies as a multi-family residential duplex. Upstairs at the rear you'll find a two-bedroom apartment (converted) with great balcony space and tons of daylight. Downstairs rear is a large one bedroom apartment. Each residential unit has its own new laundry in-unit and there's a long driveway with off-street parking at the back. The two separate APN's of this purchase opportunity could allow for conventional financing of the rear duplex, increasing attainability for newer or first time investors. The allure of this property extends beyond its current income generating capabilities to a future filled with promise, highlighted by the preliminary sketches for the development of 20 micro-apartment as an option for future development. Envision the rent roll on a prospective 20 micro-units building! Recent improvements and new construction are reshaping the neighborhood, not to mention the cities investment of over $750MM on infrastructure via the "Elevate '28" plan. These two buildings collectively known as 219 E 10th Street stand out as a stellar choice for investors aiming for a combination of steady diversified income and the opportunity for expansive growth and appreciation. The strategic benefits of owning a desirable mixed-use building with upside potential, redevelopment potential, and situated on two APN's make this a rare gem. Updated units, off-street parking, a prime location, and a manageable 5 door roster underscore the ease of stepping into this investment for new investors and seasoned professionals alike. This opportunity presents a rare window to invest a forward-thinking, multifaceted investment perfect for those poised to leverage the city's bright prospects and sights on the long term. APN #7273-007-037 and APN #7273-007-035. Subject to CA rent control law. All remarks made in good faith, however cannot be guaranteed by listing agent / broker.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD29
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Inclusions Washer and Dryer Units in each of the three residential units.
Fireplace No
Appliance Gas Cooktop,Disposal,Gas Oven,Dryer,Washer
Exterior
Garage Garage,Private,Tandem,Uncovered
Parking Type Garage,Private,Tandem,Uncovered
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Sewer Sewer Tap Paid
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 7273007037
Financing Cash
Special Listing Condition Standard