1816 Oregon Avenue

Long Beach, CA 90806

$1,229,990

List Price

7

bed Beds

4

shower Baths

3,193 sqft

straighten / sqft

1961

calendar_month Built

Property Description

Offered at an unbeatable $1,229,900, this fully remodeled, move-in-ready 3-unit property in Long Beach is a rare find for savvy investors, boasting an impressive 6% cap rate. With the opportunity to generate over $100,800 in annual gross income, this property is perfectly designed to deliver steady cash flow, featuring current market rents of $2,600 for each of the two 2-bedroom units and $3,200 for the spacious 3-bedroom unit. Located just minutes from the beach, the property’s prime location offers incredible short-term rental potential, making it an ideal candidate for Airbnb and promising even higher returns. The units have been meticulously remodeled with modern amenities and high-quality finishes, ensuring that this turnkey property requires no additional work—just start collecting rent from day one. Additionally, the property includes 4 single-car garages, providing secure parking for tenants and potential for additional income, along with future opportunities for development or conversion into an accessory dwelling unit (ADU). With everything separately metered (except water) and minimal maintenance costs, this property is designed for hassle-free ownership and maximum profitability. Don’t miss out on this rare chance to own a high-income-generating property in a sought-after Long Beach location—act fast, as properties like this don't stay on the market long!

Listing Information

List Price $1,229,990
Status Active
MLS PW24162292
HOA $0
Type Residential
Subtype Triplex
Year Built 1961
Lot Size 6,674
Structure Size 3,193
DOM 46
Courtesy Of Circle Real Estate
Listing Agent Ray Miramontes DRE#01931740
Co-Listing Agent Kevin Orantes DRE#02068882

Interior Features

Laundry Information
Location(s) Washer Hookup, Gas Dryer Hookup
Total Bedroom
Bedrooms 7
Total Bathroom
Bathrooms 4
Fireplace Information
Features None
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Ray Miramontes, Kevin Orantes, Circle Real Estate . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 22nd, 2024 at 7:11 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.