Skip To Content

    1465 W Parade Street

    Long Beach, CA 90810
    • $925,000
    • STATUS: Active
    • ON SITE: 51 Days
    • ID#: OC21194695
    UPDATED: 46 min ago
    $925,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1950
    County:

    School Ratings & Info

    Description

    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.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T16:26:31.837. 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 Keller Williams Realty. Licensed in the State of California, USA.
    www.therealestategirl.com/homes/121065838
    Print Image

    1465 W Parade Street Long Beach, CA 90810

    • Price: $925,000
    • Status: Active
    • Updated: 46 min ago
    • ID#: OC21194695
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    1950
    Built
    Neighborhood:
    Other (Othr)
    County:
    Los Angeles
    Area:
    11 - Westside
    Property Description
    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.
    Exterior Features

    Lot Features LevelRectangular Lot Number Of Separate Electric Meters 3 Open Parking Spaces 7 Parking Features Assigned Parking Total 9 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 1 Common WallEnd UnitNo One Above

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.12 Common Interest None Community Features CurbsGutter(S)SidewalksUrban Current Financing Conventional Disclosures Rent Control Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 600 Gross Scheduled Income 4811 Insurance Expense 1900 Land Lease YN No Laundry Features Inside Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Maintenance Expense 960 Net Operating Income 40432 New Construction YN No New Taxes Expense 14500 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 3 Number Of Units Leased 3 Operating Expense 17900 Possession Close Of Escrow Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All UtilitiesParking Fee Total Actual Rent 4861 Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Lbr2n

    Listing provided courtesy of Justin Schaller of Lion Heart Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T16:26:31.837. 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 Keller Williams Realty. Licensed in the State of California, USA.
     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_367200556-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_367200556-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_367200556-1.jpg
    Logo
    Keller Williams Realty
    ,