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5354 E The Toledo Long Beach, CA 90803
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Key Details
Sold Price $2,040,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW22033128
Sold Date 03/31/22
Bedrooms 8
HOA Y/N No
Lot Size 4,508 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Best location with significant upside potential, surrounded by multi-million dollar homes. 2 short blocks to Alamitos Bay with sandy beaches, water activities and boat docks. Also two blocks to 2nd Street restaurants and boutique shops. A very short distance to Naples, Peninsula, bike path and award-winning schools. 5354 E. The Toledo is a fantastic investment. 1928 Spanish structure with 4 large and bright two bedroom, one bath units, oozing character and charm with mock fireplaces, wood flooring, and old charm. Each unit has its own inside laundry and a one car garage. Each is individually metered for gas and electricity. In addition, there is a fenced yard that is enjoyed by the tenants. This property with it's prime location is in a very high demand rental area and is ripe for repositioning and renovating to achieve market rents that are approximately 50% higher than current rents.
Best location with significant upside potential, surrounded by multi-million dollar homes. 2 short blocks to Alamitos Bay with sandy beaches, water activities and boat docks. Also two blocks to 2nd Street restaurants and boutique shops. A very short distance to Naples, Peninsula, bike path and award-winning schools. 5354 E. The Toledo is a fantastic investment. 1928 Spanish structure with 4 large and bright two bedroom, one bath units, oozing character and charm with mock fireplaces, wood flooring, and old charm. Each unit has its own inside laundry and a one car garage. Each is individually metered for gas and electricity. In addition, there is a fenced yard that is enjoyed by the tenants. This property with it's prime location is in a very high demand rental area and is ripe for repositioning and renovating to achieve market rents that are approximately 50% higher than current rents.
Location
State CA
County Los Angeles
Area Long Beach (90803)
Zoning Assessor
Building
Lot Description Corner Lot, Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Level or Stories 2 Story
Others
Acceptable Financing Exchange
Space Rent $1,810
Listing Terms Exchange
Financing Cash
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Bought with Moe Shahbani • Coldwell Banker Realty