931-943 E Hill St
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931-943 E Hill St
3,270 SF Retail Building Long Beach, CA 90806 $819,000 ($250/SF) 3.13% Cap Rate
Investment Highlights
- Seller Financing Available: $300,000 down payment at six percent (6.0%) INTEREST ONLY, for SEVEN (7) years (or buyer has option for fully amortized)
- Tenant is on a Month to Month Lease
- New Owner can Collect Income from Existing Tenant(s) and Occupy Portion of the Building
- Large Fenced Lot with Abundant Parking for Vehicles
- Eight Plus Auto Bays with Two Underground Lifts and Multiple Above Ground Lifts
- Located in a Residential Neighborhood
Executive Summary
Paul Kott Realtors, Inc. – Commercial Division is pleased to auto building comprised of approximately 3,270 with the lot size of 10,018-square feet. This offering represents an excellent opportunity for an auto operator, owner/user/investor to purchase an automotive repair property in Long Beach.
Originally built in 1956, the building is constructed of block, offers two restrooms, two underground lifts, and several above ground lifts.
The seller is offering very attractive financing as follows: $300,000 down payment at six percent (6.0%) INTEREST ONLY, for SEVEN (7) years (or buyer has option for a fully amortized loan at 6.0%, amortized over 30 years, due in 7 years). At the purchase price, the monthly payment would be $2,595 per month, again for 7 years. This also provides an opportunity to collect income from the tenant while occupying a section of the property.
Originally built in 1956, the building is constructed of block, offers two restrooms, two underground lifts, and several above ground lifts.
The seller is offering very attractive financing as follows: $300,000 down payment at six percent (6.0%) INTEREST ONLY, for SEVEN (7) years (or buyer has option for a fully amortized loan at 6.0%, amortized over 30 years, due in 7 years). At the purchase price, the monthly payment would be $2,595 per month, again for 7 years. This also provides an opportunity to collect income from the tenant while occupying a section of the property.
Property Facts In Escrow
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,270 SF
Building Class
C
Year Built
1956
Price
$819,000
Price Per SF
$250
Cap Rate
3.13%
NOI
$25,600
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
0.23 AC
Zoning
LBR1N - This auto service property is a legal non-conforming use located on this LB R1N zoned property.
Frontage
75 FT on Martin Luther King Blvd
Amenities
- Corner Lot
- Fenced Lot
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Enrique's Auto Repair
- Services
- 3,270 SF
- $0.70
- Modified Gross
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Enrique's Auto Repair | Services | 3,270 SF | $0.70 | Modified Gross | - |
Bike Score ®
Very Bikeable (78)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 7211-015-029 | Improvements Assessment | $138,373 |
| Land Assessment | $665,856 | Total Assessment | $804,229 |
PROPERTY TAXES
Parcel Number
7211-015-029
Land Assessment
$665,856
Improvements Assessment
$138,373
Total Assessment
$804,229
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931-943 E Hill St
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