1005 E Harding Street,Long Beach, CA 90805
Long Beach, CA 90805
Description
Pleased to present 1005 East Harding Street, a well-maintained 10-unit apartment community in Long Beach's desirable North Long Beach submarket. The property features a strong unit mix of three 1-bedroom/1-bath units, six 2-bedroom/1-bath units, and one spacious 3-bedroom/1-bath unit with a fireplace, generating $20,741 per month in gross scheduled rent with additional income from four garages and on-site laundry. The property is fully all-electric with no gas. Current ownership has invested approximately $200,000 in capital improvements including updated kitchens, bathrooms, plumbing, laminate flooring in select units, and a completely new electrical system throughout the property significantly reducing the capital expenditure burden for a new investor. SB 721 balcony inspections have been completed and approved with the City of Long Beach, eliminating a common compliance concern for buyers of properties built before 2000. The property delivers a 6.14% cap rate on current income with a clear path to a 7.03% proforma cap rate through maximum allowable rent increases under AB 1482. This is an investment opportunity for a buyer seeking stable cash flow with built-in upside through strategic management.
Details
| MLS # | PW26180082 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1947 |
| Days On Site | 10 |
| Listing Provided By | Erik Michael Ransdell, Broker | Erik Ransdell |
Features
| SQ Feet | 7,876 |
|---|---|
| Garage | 4 |
| Story(s) | 2 |
| Units | 10 |
| Building(s) | 1 |
| Acreage | 0.19 |
| Property View | Yes |
Interior
| Heating | Electric |
|---|---|
| Heating Yes / No | Yes |
Exterior
| Lot Features | Zero To One Unit Acre, Corner Lot |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Gutters, Street Lights, Suburban, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90805 |
| Area | 7 North Long Beach |
| Community Name | North Long Beach (NLB) |
| Listing VS Median (in North Long Beach (NLB)) | |
Price: $2,400,000 low | high Med: $1,272,944 sqft: 7,876 low | high Med: 2,848 $ / sqft: $305 low | high Med: $468 On site: 10 low | high Med: 118 | |
Market Activity 90805
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90805 |
| Area | 7 North Long Beach |
| Community Name | North Long Beach (NLB) |
| Listing VS Median (in North Long Beach (NLB)) | |
Price: $2,400,000 low | high Med: $1,272,944 sqft: 7,876 low | high Med: 2,848 $ / sqft: $305 low | high Med: $468 On site: 10 low | high Med: 118 | |
 | $3,295,0006068 Atlantic AvenueLong Beach, CA 90805 |
 | $2,600,0006001 Atlantic AvenueLong Beach, CA 90805 |