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1030 Myrtle Ave
For Sale $1,550,000
$1,550,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 6,535 Sq Ft
Description
2005 construction and just outside of downtown Long Beach, this quadruplex has three large 3 bedroom 1 bathroom apartments, and one 1 bedroom 1 bathroom apartment. The strong income in place has this building at a GRM of 13.3X and a cap rate of 4.2%, and there is approximately 15% upside in the rents. The building features onsite laundry in select units, a large 2 car garage for each unit with extra parking on the driveway, and is separately metered for gas and electricity. There is a path to substantial upside via the conversion of some of the 8 garage spots to ADUs, as well as offsetting some of the expenses through the use of RUBS.
The building is just 3 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion. It offers excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000. (Per Costar)
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,550,000 |
| Property Type | Fourplex (4-units) |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 8 spots |
| Year Built | 2005 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 7274010011 |
| MLS # | SB25042498 |
| Property ID | 291988298 |
| Lot Sqft | 6,535 |
| Zoning | LBR4R |
| Total Units | 4 |
| Days on Market | 299 |
| Original List Price | $1,550,000 |
| Applicances | Gas Oven,Gas Range% |
| Date Updated | March 04, 2025 |
| Date Created | February 14, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $111,228 | $0 |
| Net Income (Yr) | $ 64,916 |
| Cap Rate | 4.2% |
Listing Provided By
Anthony Walker an agent of Buckingham Investments, Inc. Lic #01908153
© 2025 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of March 04, 2025 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT