12008 Long Beach Boulevard, Lynwood, California 90262, Lynwood, 90262 - bed, bath

12008 Long Beach Boulevard, Lynwood, California 90262 home-pic-0
ACTIVE$999,900
12008 Long Beach Boulevard, Lynwood, California 90262
0Bed
0Bath
3,016Sqft
7,096Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Rental Income: The property is explicitly described as a 'Cash Cow' with a total monthly rental income of $10,471, indicating a robust income-generating asset.
Top Cons:
Significant Landlord-Paid Utilities & Combined Metering: The landlord is responsible for combined electric meters for 8 units, water for all units, and gas for 8 units, totaling an average of $649/month, which significantly impacts net operating income and tenant conservation incentives.

Compared to the nearby listings

Price:$999.9K vs avg $1.12M ($-125,050)50%
Size:3,016 sqft vs avg 4,161 sqft50%
Price/sqft:$332 vs avg $28450%

More Insights

Built in 1942 (83 years old).
Condition: Built in 1942, this multi-unit property is significantly aged. While the limited interior images show some basic, functional updates such as clean white tile flooring, a modern ceiling fan, and a tiled shower, these appear to be piecemeal refreshes rather than extensive renovations. The exterior shows clear signs of age and wear, and the presence of window A/C units and the absence of on-site laundry facilities indicate outdated systems and amenities. The property is maintained enough to be income-generating, but major components are likely original or very old, showing signs of being outdated and requiring substantial future investment for modernization.
Year Built
1942
Close
-
List price
$1,000K
Original List price
$1,000K
Price/Sqft
$332
HOA
-
Days on market
-
Sold On
-
MLS number
OC25261318
Home ConditionFair
Features
Patio
View-

About this home

It is the best deal around! Cash Cow Multi-Family on Long Beach Blvd is an excellent location for an owner-occupied and the tenants. The landlord is selling to purchase a single-family residence. The total monthly rental income is $10,471. The landlord pays an average monthly utility of $649. This is a non-contingent sale. Make offers subject to interior inspection. Do not disturb the tenants. Conveniently Close to everything: restaurants, grocery stores, bus stops, laundry, and employers. Three buildings on the lot. The front building with three units facing Long Beach Blvd is on combined electric meters, paid for by the landlord. The second center building is a two-bedroom and one-bath with its own gas and electric meter paid for by the tenant. The third building at the rear has five units on a combined electric meter paid by the landlord. There is one water meter paid by the landlord. There are two gas meters; the landlord pays for the gas except for unit #4 (the two-bedroom). Three units have window A/C and pay an additional $100, which is already included in the rent. There is no laundry on the premises. The monthly average landlord utility expenses are : Water: $350, Gas: 100, Electricity: $399. Upon receiving an offer, the landlord does his own management and can provide rent rolls and expenses, then copies of other costs that may change upon the sale not listed on this listing. The income listed in this MLS description is correct and updated.

Price History

Date
Event
Price
07/02/97
Sold
$180,000
Condition Rating
Fair

Built in 1942, this multi-unit property is significantly aged. While the limited interior images show some basic, functional updates such as clean white tile flooring, a modern ceiling fan, and a tiled shower, these appear to be piecemeal refreshes rather than extensive renovations. The exterior shows clear signs of age and wear, and the presence of window A/C units and the absence of on-site laundry facilities indicate outdated systems and amenities. The property is maintained enough to be income-generating, but major components are likely original or very old, showing signs of being outdated and requiring substantial future investment for modernization.
Pros & Cons

Pros

Strong Rental Income: The property is explicitly described as a 'Cash Cow' with a total monthly rental income of $10,471, indicating a robust income-generating asset.
Prime Location: Situated on Long Beach Blvd, the property boasts an 'excellent location' with convenient access to restaurants, grocery stores, bus stops, and employers, enhancing tenant appeal and occupancy.
Multi-Unit Configuration: Comprising three separate buildings with a total of 9 units (3 in the front, 1 in the center, 5 in the rear), offering diversified income streams and potential for higher overall returns.
Owner-Occupant Potential: The listing highlights its suitability for an owner-occupant, which can attract a broader range of buyers looking to live in one unit while generating income from others.
Partial Tenant Utility Responsibility: One unit has its own gas and electric meter paid by the tenant, and three units contribute an additional $100 for window A/C, slightly offsetting landlord utility expenses.

Cons

Significant Landlord-Paid Utilities & Combined Metering: The landlord is responsible for combined electric meters for 8 units, water for all units, and gas for 8 units, totaling an average of $649/month, which significantly impacts net operating income and tenant conservation incentives.
No On-Site Laundry Facilities: The absence of laundry facilities on the premises is a notable inconvenience for tenants and represents a missed opportunity for additional income or enhanced tenant amenities.
Non-Contingent Sale & Restricted Pre-Offer Inspection: The property is offered as a non-contingent sale, with offers subject to interior inspection only after acceptance, and tenants are not to be disturbed, posing a higher risk and due diligence challenge for potential buyers.

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