Long Beach, CA 90806,125 E Spring ST
Long Beach, CA 90806,125 E Spring ST
Long Beach, CA 90806,125 E Spring ST
Long Beach, CA 90806,125 E Spring ST
Long Beach, CA 90806,125 E Spring ST
Long Beach, CA 90806,125 E Spring ST
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$2,000,000

$2,075,000

3.6%
Est.Price: ?

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Est. payment /mo

7,971 Sqft Lot


SOLD DATE : 12/06/2019

Key Details

Sold Price $2,000,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Wrigley Heights (Wh)

MLS Listing ID PW19205897

Sold Date 12/06/19

HOA Y/N No

Year Built 1963

Lot Size 7,971 Sqft

Property Description

125 Spring Street is a 9-unit investment opportunity in the Wrigley-Memorial Heights neighborhood of Long Beach. Built in 1963, the building features (4) two-bedroom/one-bath units and (5) one-bedroom/one-bath units, as well as (6) garages. Wrigley-Memorial Heights offers commuters quick access to all parts of Long Beach and Greater Los Angeles via major freeways as well as the Metro Blue Line, which runs between Downtown Long Beach and Downtown Los Angeles, with 22 stops along the way. Also in close proximity are employment and retail hubs - the Douglas Park office park and the Long Beach Exchange. The city is also in the midst of planning for the Globemaster Specific Corridor, the 93-acre site formerly home to Boeing’s C-17 manufacturing site. Recently purchased by Goodman Group, plans will potentially encompass commercial and residential projects. This property provides an excellent opportunity for an investor to own an asset with over 18 percent upside potential in a dynamic and growing location. Wrigley Heights is a hidden gem that is well- known for both its name and its tradition as a well-established historic neighborhood. As one of the earliest developments of Long Beach, this neighborhood has seen a lot of change but remains largely untouched by time. Tidy streets lined with palm trees and carefully tended lawns give this area the nostalgic feeling of suburban America.

Location

State CA

County Los Angeles

Area 5 - Wrigley Area

Zoning LBR4N

Interior

Fireplace No

Laundry Laundry Room

Exterior

Parking Features Garage

Garage Spaces 6.0

Garage Description 6.0

Pool None

Community Features Street Lights, Sidewalks, Urban

Total Parking Spaces 6

Private Pool No

Building

Lot Description 6-10 Units/Acre

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7206020039

Energy Description 1012.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Robert Stepp • Keller Williams Pacific Estate
Bought with Andrew McAllister • Nationwide Real Estate Execs
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