Contacts

Jack Jorgensen

Young Lewin Advisors

Property Details

Property Type Multi-Family
Property Size 3,616 SF
Units 5
Lot Size 7,816 Acre
Additional Rent Contact for pricing
Date Updated Sep 6, 2024

Long Beach - WillmoreYoung Lewin Advisors is pleased to present the sale of 529 W 10th St. in the Willmore neighborhood of Long Beach just minutes from Downtown. The property has undergone significant renovation with four of the units receiving full interior renovation including new flooring, kitchens, bathrooms, and fixtures. The property has also had the majority of major systems replaced - new electrical panels and wiring, and new pex plumbing throughout. 10th St. consists of a large detached 1,336 square foot 3 bed/2 bath front house that includes a private gated space for multiple cars. The front house used to be two units at one point , and the possibility exists to split in back to it's original configuration as a duplex- one 2 bed/1 bath and one 1 bed/1 bath unit, which would result in about a 25% increase in rental income. Two detached duplex's are behind the front house that consist of one bedroom units (two of the units have been converted from studios into one bedroom units). A detached double car garage is at the rear of the property, which could be converted into a detached ADU as well. 529 W 10th St. presents a great opportunity to purchase a high cashflowing asset at a 11.57 GRM and 5.44% cap rate where the current owner has done the majority of the heavy lifting with additional upside.

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Highlights

Turnkey Five Unit Property in the Wilmore area of Long Beach minutes from Downtown
Owner has spent over $150,000 renovating the interior of the units along with replcement of the majority of plumbing to pex and new electric sub panels and wiring in four of the five units
Interior of units meticulously turned with high quality finishes better than most rentals in the area -floors, bathrooms, kitchens, etc.
Newer roof with majority of major systems (electric and plumbing) replaced
Opportunity to convert back into original 6 unit configurtion by converting the front house into a duplex
Located in the historic neighborhood of Willmore- you are one mile from Downtown Long Beach- boosting a walkscore of 86 of "very walkable". Tenants also benefit from being close to the 710 greeway making this a great commuter location as well

Getting around

86/100
Walk Score ®
66/100
Transit Score ®
91/100
Bike Score ®

Powered by Walk Score ®

City Long Beach, CA
Neighborhood Willmore City
Zip Code 90813
Market Los Angeles

Points of Interest

Anaheim Street

0.59 miles
5th Street

0.66 miles
1st Street

0.88 miles
Willow Street

2.00 miles
Lakewood Boulevard

9.87 miles

Chevron

0.22 miles
Shell

0.22 miles
76

0.23 miles
76

0.79 miles
Arco

0.81 miles
Mobil

0.85 miles
Chevron

0.94 miles
USA gas

1.08 miles
Chevron

1.19 miles
Shell

1.19 miles

4th & Pacific Lot

0.61 miles
Parking structure

0.68 miles
Parking structure (for courthouse)

0.72 miles
parking structure

0.75 miles
Public Parking

1.02 miles
Lot 1

1.57 miles
Lot 2

1.63 miles
Lot 3 Staff

1.68 miles
Lot 7 staff

1.69 miles
Lot 6

1.70 miles

El Capitan Motor Inn

0.74 miles
State Motel

0.75 miles
Beacon Inn Motel

0.75 miles
Hilton Long Beach

0.78 miles
Poolside Inn Motel

0.79 miles
La Mirage Inn

0.79 miles
Tower Motel

0.80 miles
Travel Eagle Inn Motel

0.82 miles
Bay Hotel

0.85 miles
Best Western of Long Beach

0.86 miles

Superior Grocery

0.52 miles
El Super

0.75 miles
Vons

1.07 miles
Northgate Market

1.23 miles
Northgate Market

1.83 miles
Albertsons

1.89 miles
Big Saver Food

2.01 miles
La Bodega

2.38 miles
Ralphs

2.44 miles
Ross

2.58 miles

In-Depth Research Available for this Property

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528 West 10th Street