1627 West Summit Street

Long Beach, CA 90810

$1,575,000
Price
10
Beds
8
Baths
4,160 Sq. Ft.
$379 / Sq. Ft.
4,160
Sq. Ft.
$379
per Sq. Ft.

Description

Amazing investment opportunity! Best income to cost ratio in Long Beach, don't pass this opportunity up or you'll regret it. This four-unit building includes 2 BRAND NEW one bed, one bath ADUs, and 2 giant 4 bedroom 3 bath units. Approximately $120k gross income a year! The new units come complete with a/c in each room, shaker cabinets, tiled shower, luxury plank vinyl flooring and stainless-steel appliances. Each of the larger units boasts 1680 square feet, 4 bedrooms, 3 bathrooms, open kitchen,...Amazing investment opportunity! Best income to cost ratio in Long Beach, don't pass this opportunity up or you'll regret it. This four-unit building includes 2 BRAND NEW one bed, one bath ADUs, and 2 giant 4 bedroom 3 bath units. Approximately $120k gross income a year! The new units come complete with a/c in each room, shaker cabinets, tiled shower, luxury plank vinyl flooring and stainless-steel appliances. Each of the larger units boasts 1680 square feet, 4 bedrooms, 3 bathrooms, open kitchen, as well as its own comfortable outdoor space, laundry room, 2 tankless water heater & water filtration system. Each unit is separately metered--landlord only pays for water and gardening. This is a fantastic opportunity for an investor to own an income property in a quickly appreciating area! Walk through of units with accepted offer. Please do notdisturb tenants.
  1. Listed by Marcus Kassin • DRE #01216904 • Brokerage DRE #01464847 • Coldwell Banker Realty
  2. Listed by Joshua Kamali • DRE #02191899 • Brokerage DRE #00702131 • Pellego, Inc.

Property Details for 1627 West Summit Street

Zoning
LBR2N
Parcel Number
7431019032
Total Units
4.0
Living Area
4160
Source Living Area
Developer
Area
Westside (11)
Vacancy Rate
none
Lot Size Area
6320

Location

Listing Courtesy of Coldwell Banker Realty, Marcus Kassin, DRE #01216904; Pellego, Inc., Joshua Kamali, DRE #02191899
Add your commute
LISTING UPDATED: 04/21/2024 07:25 PM

Property Details for 1627 West Summit Street

StatusActive
MLS #24-361363
Days on Market66
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2017
Lot Size0.15 AC / 6,320 SF
CountyLos Angeles County

Location

Listing Courtesy of Coldwell Banker Realty, Marcus Kassin, DRE #01216904; Pellego, Inc., Joshua Kamali, DRE #02191899
Add your commute

Building Information for 1627 West Summit Street

Stories-Residences-Year Built2017Building Size-Lot Size0.15 AC / 6,320 SF

Payment Calculator

$9,914 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,595

Property Taxes

$1,319

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1627 West Summit Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: 4
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $0
  • Net Operating Income: $.00
  • Gross Income: $119,940
  • Gross Rent Multiplier: $.00
  • Actual Gross Annual Income: $119,940
  • Total Annual Expense: 0
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1451
  • Lot Size Square Feet: 6320
Parking Details
Parking Details
  • Parking Garage: Parking Space
  • Total Parking: 4
  • Parking Features: Parking Space
Interior Features
Interior Features
  • Levels: Multi/Split, One
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Dishwasher, Dryer, Washer, Refrigerator, Range/Oven
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Accessory Bldgs
Lease Terms
Lease Terms
  • Entry Date: 02-23-2024
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,100.00
  • Unit Actual Rent: $3,100.00
  • Unit Projected Rent: $3,100.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 4
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,495.00
  • Unit Actual Rent: $3,495.00
  • Unit Projected Rent: $3,495.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,700.00
  • Unit Actual Rent: $1,700.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,700.00
  • Unit Actual Rent: $1,700.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $612,000.00
  • Assessed Improvement Percent: 50.63
  • Assessed Land Value: $596,700.00
  • Assessed Land Percent: 49.37
  • Assessed Total Value: $1,208,700.00

Property History for 1627 West Summit Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1627 West Summit Street

Taxable ValueLand$596,700Additions$612,000Total$1,208,700
Tax Record2023$15,831 ($1,319 / month)
Home Facts
Total Finished SqFt3,360 SqFtAbove Grade Finished SqFt3,360 SqFtLot Size6,320 SqFtStyleDuplexYear Built2017ZoningLBR2NCountyLOS ANGELESAPN7431-019-032

Schools near 1627 West Summit Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Garfield Elementary School
PublicK to 5

Stephens Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Educational Partnership High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1627 West Summit Street is a multi-family home for sale in Long Beach, CA 90810. This property was listed for sale on February 22, 2024 by Coldwell Banker Realty, it's currently listed at $1,575,000. It has been on the market for a total of 66 days and was last sold on May 26, 2022. This listing's school district is Long Beach Unified School District. Nearby schools include Garfield Elementary School, Stephens Middle School and Cabrillo High School. 1627 West Summit Street is a 10-bed, 8-bath, 4,160 sqft multi-family home built in 2017.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Marcus Kassin, DRE #01216904; Pellego, Inc., Joshua Kamali, DRE #02191899

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.