Neighborhood: North Long Beach (nlb), 7 - North Long Beach
One Building with twelve (12), One (1) bedroom and one (1) bathroom apartments. Each apartment unit is rented out at about $1,500 per unit. The total rental income of the 12 unites @ current $1,500 is $18,000 per month. One unit gets a $500 discount (minus) for helping out with the property and the washer dryer income is about $500 (plus). So again, the total income is around $18,000 per month currently. Some upgrades have been done to the property since it was purchased a few years back. Six (6) units are on the ground floor and Six (6) units are upstairs. Parking is in the back and on a first come, first serve basis. Each apartment unit has separate utilities and they have separate water, gas and electric bills. Each tenant pays for their own utilities. Great location and just a couple of miles from the Pacific Ocean, great ocean breeze. Easy Access from multiple roads and lots of amenities to enjoy.