EXCELLENT ASSUMABLE FINANCING FIXED AT 3.75% UNTIL APRIL 2025. Cash on Cash during year 1 will push 8%+ with this excellent debt option. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. 10.86X GRM and 5.8% CAP with upside to 6.4% CAP. Located on the West Side blocks from Down Town where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree lined street. The property is professionally managed and well maintained. All units have their own private parking included and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. Current loan is with Luther Burbank Savings (now WA Fed). Loan amount is approximately $1.230.000 fixed at 3.75% through April 2025, Interest Only payments. Come April it can adjust up a maximum of 2.0% in year 1. LA is a principal. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A CURRENT RENT ROLL AND LOAN INFO.
