2238 2244 Earl Avenue, Long Beach, CA 90806

$1,250,000
Sold Price
$1,250,000
List Price
$1,250,000
Closing Date
Aug 26, 2022
Status
CLOSED
MLS#
PW22115606
Year Built
1938
Lot Size
5,845
Acres
0.13
Lot Location
2-5 Units/Acre
Days on Market
84
Property Type
Multifamily
Neighborhood
Wrigley Area (Wr)

Property Description

2238 Earl Avenue is a 4-unit investment asset in the up- and-coming South East Wrigley neighborhood, just north of Downtown Long Beach. The units are bright and spacious featuring two 2 BD/ 1 BA units and two 1 BD/1 BA units with separate entrances, totaling 3,758 square feet of building area. One two bed unit has been completely gutted and renovated. The remaining three units having brand new bathrooms, vinyl flooring, paint and ceiling fans. The property sits on a large lot at 5,845 square feet with beautifully landscaped front and backyards. Four detached garages sit off the back alley that have the potential to be converted to ADUs. The roof has been recently repaired on the main building and is in great condition while the garages feature all new doors. 2238 Earl Ave provides a new buyer the opportunity to own large units in a high demand rental market and 19.75% gross rent upside potential with the existing units.

Additional Information

Pool Description
None
Garage Spaces Total
4
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
4
Gross Scheduled Income
$79,164
Operating Expense
27377

Listing courtesy of Listing Agent: Robert Stepp (rstepp@steppcommercial.com) from Listing Office: Keller Williams - Santa Monica.

Listing sold by Jeffrey Isenberg from Buckingham Investments, Inc

Mortgage Calculator

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.