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$7,595,000
42 Beds 32 Baths 23279623 MLS Active Status
2 adjacent buildings located in Alamitos Beach, Long Beach, totaling 32 units. 725 & 745 Orange - TO BE SOLD TOGETHER. Subject to AB 1482 rent control (max annual increase of CPI + 5%).The buildings feature a great unit mix for the area consisting of 22 1+1's and 10 2+1's. The property also features a ton of onsite parking (40 spaces total) which is an anomaly for the area. Onsite laundry is available as well. The property is priced at a 12X GRM (5.0% CAP) against in place rents with 15% rental upside to a 10.5X GRM (6.2% CAP).The property is professionally managed and well maintained and they are separately metered for gas and electric. An investor could come in and achieve market rents by doing some interior upgrades to the units as they turn over. Initial indications are that the parking area in the rear can be updated to include 6 ADU's each averaging 650 SF - Buyer to verify. There is an existing loan with Luther Burbank Savings fixed at 3.25% through August 2026, Interest Only through August2024. Initial indications from the lender are a new, qualified buyer could take over this loan by bringing some equity to the closing table with a new loan ending up at $3,450,000 (down from the current $5,075,000). A Buyer to verify. The property is located just minutes from Downtown Long Beach where over $8BB of redevelopment is occurring. It is also a few minutes drive from the beach as well as Pikes Place featuring shopping and restaurants. For more information on the local area and all the redevelopment occurring, visit - https://la.urbanize.city/neighborhood/long-beach. EMAIL LISTING AGENT FOR AN OM INCLUDING A RENT ROLL AND ACTUAL EXPENSES.

725 Orange Avenue, Long Beach

$4,000,000
5 Beds 9 Baths PW23076527 MLS Closed Status
Welcome to Naples Island and One of the Finest Homes on the Island. This Colonial Masterpiece is Truly a "One Of A Kind" Build. Custom Build by well known builder, Craig Pettigrew. This Timeless Design is Located in the Heart of the Premium Estate Section of Naples. This Sophisticated and Elegant Home is Constructed with the Finest of Materials, Craftsmanship, Quality Amenities and Attention to Details. There has been No Expense Spared on this Landmark Estate Home. Known for Generations to be the Best Home in the neighborhood, it is truly one of the most Coveted Homes in Naples. This Incomparable Mansion is spread across an oversized 8,960 Sq. ft. Lot and boasting 7,730 Sq. Ft of Indoor Living Space. Designed to be a fully Private Compound, it is perfectly designed for large scale Entertaining. Enter this Elegant and Distinguish Home through Solid Wood Double Doors into the Magnificent and Grand Foyer, Custom Burl Wood Paneling and Beautiful Crystal Chandelier. To the left is the Spacious Formal Living Room with a Marble and Wood Fireplace and Burl Wood Panels. Move into the Formal Bar and Family Room, and Sun Room, also w/ a Marble and Wood Fireplace. Enter the Incredible Master Suite, Complete with a Sitting Room Retreat and Fireplace. The Master Bath is also a Genuine Masterpiece, w/ Walk in Closets, a Walk in Shower of Imported Italian Tile inlays, a Stand alone Soaking Tub and Chandelier, Tile Flooring, White Cabinetry and Marble Counters. Adjacent to the Family Room is the Elevator, and the Open Gourmet Kitchen with Butlers Pantry and built in Wine Room. The Kitchen is Top of The Line Viking Stainless Appliances and Beautiful Green Marble Counters, Walk in Pantry, and Chandelier over the Oversized Kitchen Island. There is a Formal Dining Room Completely Paneled in Burl Wood w/Custom Wood Ceiling and Inlays and Crown Molding. Moving up the Grand Staircase to the Second Level, There are Three more Spacious Custom Bedrooms w/ on-Suite Bathrooms and an Office/Studio, also with on-Suite Custom Bath. Located in the Middle of the Upstairs is the Home Theater Room, with a Built-in Bar, Marble Counters, Refrigerator, Ice and more. Attached is another Full Bath. Stroll outside onto a Spacious Sun Deck, overlooking the in Ground Pool and Spa. This Pool has a swim against the current feature. Other Features: Dual Laundry Rooms, 3 Car Garage w/Slate Flooring, Outside Parking for 4 Cars, New Roof, Crown Moldings, Copper Details, Air Cond. and Home Automation.

93 Giralda, Long Beach

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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.

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