$1,050,000
$1,125,000
6.7%For more information regarding the value of a property, please contact us for a free consultation.
4,987 Sqft Lot
SOLD DATE : 01/15/2025
Key Details
Sold Price $1,050,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24178774
Sold Date 01/15/25
HOA Y/N No
Year Built 1962
Lot Size 4,987 Sqft
Property Description
6.01% current in place cap rate and 10.76 GRM with tons
of upside (43% rental upside). Value-Add investors will
want to take note of of the ADU opportunity on this
asset. RARE 8 parking spaces on this overparked asset.
1132 Arcadia is a perfect asset for a new or
experienced investor located at the end of a quiet Culde-
sac near the hottest and fastest growing market in
LA Counties own in Long Beach. Great unit mix
comprised of (2) 2Bed+1Bath and (3) 1Bed+1Bath units,
most of which have been lightly renovated in the past
2 years. There are 8 parking spaces on site, adding
significant value to the property. Each unit is
separately metered for gas and electric.
The subject property is located just outside the $6
Billion of new development flooding into Downtown
Long Beach, including the Long Beach Civic Center,
Aquarium, OceanAire Project, CSULB Downtown Village,
Broadway Block, The Pacific and Queen Mary Island.
Location
State CA
County Los Angeles
Area 5 - Wrigley Area
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with General NONMEMBER • NONMEMBER MRML