2500 2506 E Spaulding Street,Long Beach, CA 90804
Long Beach, CA 90804
Description
2500-06 East Spaulding Street is an updated 18-unit apartment property in Zaferia, a largely built-out submarket of East Long Beach. Built in 1962, the two-building, 14,866-square-foot property is offered at $4,995,000, or $277,500 per unit and $336 per square foot. All 18 units are updated two-bedroom, one-bath floor plans, and the building has fresh two-tone exterior paint and a central courtyard. In-place rents of $37,871 per month carry a 6.2% capitalization rate on $307,432 of net operating income, and the $40,500 per month the unit mix supports at market takes net operating income to $333,657 and the return to 6.7%. Eight enclosed garages, eight open parking spaces and two onsite laundry rooms give the building amenity depth uncommon at this size. RUBS, parking and pet income add $1,790 per month in ancillary revenue. Each unit is individually metered for electricity, giving residents direct control over utility costs and holding the owner-paid expense load down. Gated keypad access adds security and supports longterm tenant retention. Interiors feature stainless steel appliances, wood-look plank flooring, and ceiling fans, finishes that support durable occupancy and continued rent growth in one of Long Beach's most walkable neighborhoods.
Details
| MLS # | PW26223076 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 9 |
| Listing Provided By | Triqor Group | Christopher Walker |
Features
| SQ Feet | 14,886 |
|---|---|
| Garage | 8 |
| Story(s) | 2 |
| Units | 18 |
| Building(s) | 2 |
| Acreage | 0.30 |
Exterior
| Lot Features | Irregular Lot |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 699 Not Defined |
| Listing VS Median (in 90804) | |
Price: $4,995,000 low | high Med: $699,450 sqft: 14,886 low | high Med: 968 $ / sqft: $336 low | high Med: $723 On site: 9 low | high Med: 59 | |
Market Activity 90804
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 699 Not Defined |
| Listing VS Median (in 90804) | |
Price: $4,995,000 low | high Med: $699,450 sqft: 14,886 low | high Med: 968 $ / sqft: $336 low | high Med: $723 On site: 9 low | high Med: 59 | |