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1033 Orizaba, Long Beach, CA 90804
Priced at Only: $2,250,000
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Address: 1033 Orizaba, Long Beach, CA 90804
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  • MLS#: PW26065434 ( Apartment )
  • Street Address: 1033 Orizaba
  • Viewed: 2
  • Price: $2,250,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1963
  • Bldg sqft: 0
  • Days On Market: 29
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90804
  • Subdivision: Eastside (es)
  • Provided by: Pabst, Kinney & Associates
  • Contact: Spencer Spencer
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    1033 Orizaba Avenue is an excellent cash flowing multifamily asset located in a prime Long Beach location just north of Rose Park. The property consists of eight units, including (2) 3 bedroom, 2 bath units and (6) 2 bedroom, 1 bath units, offering a versatile unit mix that appeals to a wide range of tenantsfrom individuals and roommates to families seeking additional space. The property features four single car garages, four additional surface parking spaces, a large outdoor deck above the garages, and a community laundry facility, providing desirable amenities that enhance tenant retention and livability. Additionally, the garage configuration presents a compelling value add opportunity, as a new owner could explore the potential to convert the existing garages into up to two Accessory Dwelling Units (ADUs), further increasing income and maximizing the sites utility (buyer to verify). The asset is currently generating strong income of $16,895 per month ($202,740 annually), delivering immediate and stable cash flow. There is also meaningful upside in the current rents, most notably within one of the 3 bedroom units, offering investors the opportunity to further enhance revenue over time. 1033 Orizaba Avenue presents investors with a rare opportunity to acquire a well located, stabilized multifamily property with both strong in place income and clear value add potential in one of Long Beachs most established rental markets, supported by consistent demand and proximity to employment, retail, and everyday amenities.
Features
Building Area Total
  1. 6804.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Country
  1. US
Electric Expense
  1. 0.00
Fuel Expense
  1. 0.00
Garage Rental Rate
  1. 450.00
Garage Spaces
  1. 4.00
Insurance Expense
  1. 0.00
Laundry Equipment Own Lease
  1. Lease
Laundry Features
  1. Common Area
Laundry Income
  1. 50.00
Lot Features
  1. Rectangular Lot
Netoperatingincome
  1. 202740.00
Parcel Number
  1. 7258002018
Pool Features
  1. None
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 459380444:CRM
Subdivision Name Other
  1. Eastside (ES)
Totalactualrent
  1. 16395.00
Totalexpenses
  1. 0.00
Trash Expense
  1. 0.00
Water Sewer Expense
  1. 0.00
Water Source
  1. Public
Year Built
  1. 1963
Year Built Source
  1. Assessor
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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