117 W 9th ST, Long Beach, CA 90813
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Maria Zendejas

Maria Zendejas

+1(805) 377-0941
$ 1,399,900
Est. payment /mo
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Coming Soon

117 W 9th ST Long Beach, CA 90813

10 Beds

4 Baths

3,240 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Coming Soon

Purchase Type For Sale

Square Footage 3,240 sqft

Price per Sqft $432

MLS Listing ID 26870367

Bedrooms 10

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1918

Lot Size 2,500 Sqft

Property Description

RARE 4-UNIT OWNER-USER, VALUE-ADD & PORTFOLIO OPPORTUNITY! Offered at $1,399,900, 117 W. 9th Street presents a unique opportunity to acquire a Long Beach multifamily property with TWO VACANT 2-BEDROOM UNITS. 50% OF THE PROPERTY AVAILABLE FOR IMMEDIATE OCCUPANCY OR LEASE-UP! The two currently occupied units generate $3,355 per month / $40,260 annually, with existing rents of $1,995 and $1,360. This provides established income from day one while leaving TWO 2-BEDROOM UNITS VACANT and available for a new owner to immediately reposition, improve, occupy, or lease at current market rents, subject to applicable laws. For an OWNER-USER, the opportunity is particularly compelling: occupy one of the vacant 2-bedroom units while receiving rental income from the occupied units and retaining an additional vacant 2-bedroom unit for future rental income. For an INVESTOR, 50% vacancy creates the opportunity to immediately address a significant portion of the property's income potential rather than waiting for existing tenants to vacate. Current annual operating expenses are approximately $16,800, with current NOI of approximately $23,460 BEFORE ANY INCOME FROM THE TWO VACANT UNITS. The property's current financial performance therefore reflects only 50% physical occupancy and should be evaluated together with the potential income available through lease-up of the two vacant units. Multiple strategies are available: OWNER-OCCUPY, LEASE-UP, RENOVATE, VALUE-ADD, HOLD, or 1031 EXCHANGE. Existing income + two vacant 2-bedroom units + immediate control of 50% of the units creates a compelling opportunity for a buyer seeking long-term upside. PORTFOLIO SALE: 117 W. 9th Street is being offered as part of a portfolio sale together with 1089 E. 7th Street, Long Beach, providing an opportunity to acquire multiple Southern California multifamily assets. Contact listing agent for portfolio details and terms.1031 EXCHANGE: Seller intends to complete an IRC Section 1031 Tax-Deferred Exchange. Buyer to cooperate with Seller's 1031 Exchange at no cost or liability to Buyer. Buyer to independently verify all rents, expenses, vacancies, market rents, square footage, unit configuration, permits, zoning, financial information, and owner-occupancy requirements.

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LBR4N

Interior

Heating Natural Gas

Cooling None

Fireplaces Type None

Fireplace No

Exterior

Parking Features On Street

Pool None

View Y/N No

View None

Roof Type Composition

Private Pool No

Building

Lot Description Corners Marked, Rectangular Lot

Faces South

Story 2

Entry Level Two

Foundation Raised

Sewer Other

Architectural Style Traditional

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Schools

School District Long Beach Unified

Others

Senior Community No

Tax ID 7273014015

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Contract, Subject To Other

Listing Terms Contract, Subject To Other

Financing Cash,Contract

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Kory Jackson eXp Realty of California Inc #01315324
Maria Zendejas

Maria Zendejas

CEO | Realtor | License ID: 1113849

+1(805) 377-0941

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117 W 9th ST