Have you been looking for an investment property in Long Beach? I am talking specifically about properties between 2-4 units. That means that the building has at least 2 separate living spaces and a maximum of 4 units. Anything above 4 units is considered commercial and if you need a great long beach commercial agent we are happy to refer one to you as we have worked with several great commercial agents.
So what about investment properties in Long Beach? Well for starters there are 86 investment properties that meet the following criteria:
- At least 2 units
- No more than 4 units
- Under 650,000
- Not in the process of foreclosure
Some might wonder why I didn't include properties that are in the process of foreclosure and the reason I didn't include them is they are unpredictable as far as what the bank is willing to take. I am not saying that one shouldn't pursue them but that is the subject of a different post.
The GSI (Gross Scheduled Rent) of the buildings in the sample ranges from $0 (no one bothered to fill it in) to as high as 68,000. Now all numbers need to be validated but one can see from the properties that there are buildings that are as small a 1,320 to as large as 3,300 square feet.
Investing in long beach rental property is about knowing your numbers and knowing your facts. You need to make sure that you have sufficient funds for a down payment and that you are prepared to be a landlord or higher a very good property manager.
Check out the FREE MLS to see what is available and if you would like to know about the value of your investment property use our market snap shot tool to keep track of your investments in Long Beach and the surrounding cities.
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