Back on Market – Major Price Reduction | Turnkey 3-Unit Income Property | High Cap Rate
Now offered at $1,299,000, this fully permitted 3-unit property is back on the market after falling out of escrow due to FHA restrictions — not due to property condition. The new price reflects exceptional value for investors or hybrid buyers seeking strong cash flow and minimal maintenance. All units are upgraded or newly constructed with permits and high-quality systems.
A rare opportunity to own a luxurious and fully rebuilt three-unit income property in North Long Beach — perfect for families seeking multi-generational living or investors seeking strong returns. All upgrades were completed with permits and attention to detail, delivering both lifestyle and long-term value.
Live in one unit and collect rent from the other two to offset your mortgage — or lease all three for high-yield passive income.
Property Highlights:
• Rebuilt Front Home (3BD/2BA): Modern finishes, open floor plan, double Milgard windows, new roof, HVAC, electric, and plumbing
• Brand New ADU (2BD/2BA): Detached, private entry, lighted mirrors, stone-accented bathrooms
• Brand New JADU (1BD/1BA): Stylishly designed with stone shower walls and efficient layout
All units feature:
• Independent electric and gas meters
• Modern kitchens with new appliances
• In-unit washers and dryers
• Beautiful landscaping with fresh lawn, fruit trees, and 4-car parking
• Private front yard areas for each unit — perfect for gardening or outdoor dining
Pro Forma Rent Roll:
• Front House (3/2): $4,300
• ADU (2/2): $3,300
• JADU (1/1): $2,200
Projected Monthly Income: $9,800
Estimated Cap Rate: 7.3%
Low operating expenses due to all new systems
Note: FHA financing not eligible due to property classification and self-sufficiency rules. Ideal for conventional, DSCR, or cash buyers.
Video Tour: https://vimeo.com/1036491765?share=copy#t=0
Property Website: https://111East67thWay1818171mls.f8re.com/
https://111East67thWay1818171mls.f8re.com/
Lechavarria@onthegorealestate.com
