Multi-Family (2-4 Units)
PRICE REDUCTION! Very unique and large 3 unit property in South Rose Park, south of 7th Street, just 1/2 mile to the beach! These 3 units consist of a total of 3887 square feet on a 6770 SF lot. The FRONT HOUSE is a 3 bedroom 2 bath refurbished Craftsman home (627 Molino). The BACK HOUSE (629 Molino) has 2 units: DOWNSTAIRS UNIT is a studio with one bedroom, one bath and an outdoor cooking area accessed by slider; UPSTAIRS UNIT is 3 bedroom, 3 bathroom with a large kitchen and living area with a large balcony, and each large bedroom has its own bathroom and walk-in closet. * Fully occupied * this triplex brings in total of $5,445/month currently with long term tenants that have been there for 13 years! $2350 from the front house (market value $2700) and $3095 from the 2 back units (market $4800) with long term tenants. Importantly, this property also has 2 2-car garages (4 garage spaces) plus 2 uncovered designated off-street parking spaces, 4 more parking spaces in front of each of the garage spaces for a total of 10 PARKING SPACES. There is a WASHER AND DRYER in each of the 2 garages. This is an excellent investment in a non-rent controlled city, and this property has never had a problem attracting great tenants. The property is well maintained and in a great neighborhood near shopping, transit, the ocean and beach, on route to Cal State Long Beach. NOTE: You can also rent 1 of 2 car garages out separately for additional $200 a month income!
† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.