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    1882 Molino Avenue

    Signal Hill, CA 90755
    • $1,799,000
    • STATUS: Active Under Contract
    • ON SITE: 41 days
    • ID#: PW21011058
    Under Contract
    UPDATED: 79 min ago
    $1,799,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,440
      SQFT
    • $331
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    Exceptionally located near the top of the hill in Signal Hill, this 5-unit building has much to offer an investor or an investor-owner. The area draws tenants and the building seals the deal! All units have been remodeled to some degree with vinyl planking flooring, granite or quartz counters, dual paned windows, upgraded appliances, some stainless steel. Two units have central A/C. The three upstairs units offer magnificent panoramic views from Long Beach to the Pacific Palisades. The downstairs units will not be left out and take pride in their cozy patios. The Penthouse is a townhouse-style corner unit with 3br/1.5 ba, and 2 patios (one enclosed downstairs and one panoramic deck off the living room. This building commands higher than normal rent, though the virus has put rental increases on temporary hold so there is now room to grow. There are two double car garages offering 4-parking spaces and one outside space. There is a community area in the rear for tenant use. The building is gated and private, offering additional security. Community laundry, block wall, and additional storage for the tenants on the north side of the building. Unit mix is as follows; One (1) 3BD 1.5BA and Four (4) 2BD 1BA. Unit D 3D tour: https://my.matterport.com/show/?m=xNNsG9T4d2n. Unit E 3D Tour: https://my.matterport.com/show/?m=KQiKWdoZ8Ry

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-03-06T16:27:33.91. 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 deemed reliable but is not guaranteed accurate by the MLS or The Veléz Team | Coldwell Banker. Licensed in the State of California, USA.

    www.isabelvelez.com/homes/113577485
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    1882 Molino Avenue Signal Hill, CA 90755

    • Price: $1,799,000
    • Status: Active Under Contract
    • Updated: 79 min ago
    • ID#: PW21011058
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    5,440
    SQFT
    $331
    $/SQFT
    1964
    Built
    Neighborhood:
    Signal Hill (Sh)
    County:
    Los Angeles
    Area:
    8 - Signal Hill
    Property Description
    Exceptionally located near the top of the hill in Signal Hill, this 5-unit building has much to offer an investor or an investor-owner. The area draws tenants and the building seals the deal! All units have been remodeled to some degree with vinyl planking flooring, granite or quartz counters, dual paned windows, upgraded appliances, some stainless steel. Two units have central A/C. The three upstairs units offer magnificent panoramic views from Long Beach to the Pacific Palisades. The downstairs units will not be left out and take pride in their cozy patios. The Penthouse is a townhouse-style corner unit with 3br/1.5 ba, and 2 patios (one enclosed downstairs and one panoramic deck off the living room. This building commands higher than normal rent, though the virus has put rental increases on temporary hold so there is now room to grow. There are two double car garages offering 4-parking spaces and one outside space. There is a community area in the rear for tenant use. The building is gated and private, offering additional security. Community laundry, block wall, and additional storage for the tenants on the north side of the building. Unit mix is as follows; One (1) 3BD 1.5BA and Four (4) 2BD 1BA. Unit D 3D tour: https://my.matterport.com/show/?m=xNNsG9T4d2n. Unit E 3D Tour: https://my.matterport.com/show/?m=KQiKWdoZ8Ry
    Exterior Features

    Exterior Features Lighting Fence YN Yes Fencing BlockGood Condition Foundation Details Slab Garage Spaces 4.00 Lot Features 0-1 Unit/AcreNear Public Transit Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 8.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type MaintainedPaved Spa Features None Spa YN No Uncovered Spaces 4.00 View City LightsHarborMountain(S)NeighborhoodPanoramic View YN Yes

    Interior Features

    Appliances DishwasherDisposalGas OvenGas CooktopGas Water HeaterRange HoodRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Door Features Atrium DoorsSliding Doors Fireplace Features None Fireplace YN No Flooring CarpetVinyl Heating CentralWall Furnace Heating YN Yes Interior Features BalconyBuilt-In FeaturesCeiling Fan(S)Formica CountersGranite CountersLiving Room BalconyTile Counters Laundry Features Common AreaDryer IncludedWasher Included Levels Two Room Type Kitchen Window Features BlindsDouble Pane Windows

    Property Features

    Accessibility Features Parking Additional Parcels YN No Building Area Units Square Feet Community Features CurbsParkSidewalksStreet Lights Country Us Electric Expense 615.00 Elevation Units Feet Exclusions Tenant Belongings Fuel Expense 860.00 Gross Income 121212.00 Gross Multiplier 15.04 Gross Scheduled Income 119820.00 Inclusions AppliancesWasher/Dryer Insurance Expense 1993.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 1392.00 Laundry YN Yes Net Operating Income 92054.00 New Construction YN No New Taxes Expense 22000.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 5 Number With Drapes 0 Operating Expense 27766.00 Professional Management Expense 0.00 Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Card/Code AccessSmoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Signal Hill (Sh) Tenant Pays ElectricityGas Total Actual Rent 9985.00 Total Expenses 27766.00 Trash Expense 990.00 Utilities Electricity ConnectedSewer ConnectedWater Connected Water Sewer Expense 1308.00 Water Source Public Year Built Source Public Records Zoning Shr3*

    Listing provided courtesy of Cheryl Cotton of Keller Williams Coastal Prop. and Ryder Cotton of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-03-06T16:27:33.91. 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 deemed reliable but is not guaranteed accurate by the MLS or The Veléz Team | Coldwell Banker. Licensed in the State of California, USA.

     
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