1187 E 3rd St UNIT 215Long BeachCA90802
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Long Beach at 1187 E 3rd St UNIT 215, Long Beach, CA, 90802 uses $132,269 cash to close to unlock $4,699/yr annual cash flow and $392/mo monthly cash flow. Total monthly income runs $2,860/mo, and a $1,953/mo payment keeps the spread at $392/mo. Purchase price stands at $399,000, and rental yield measures 8.6% with $2,860/mo rent. Return on cash invested shows 23.46% in year one, and 5% annual appreciation builds toward $110,236 over five years. Five-year ROI reaches 121.9% and total cumulative return in cash records $161,234. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,860/mo property income covering a $1,953/mo payment rather than investor’s personal income.
Condo
Built in 1969
0.58 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 90802, Long Beach, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,306 (100%) |
| Owner Occupied HU | 4,625 (17.6%) |
| Renter Occupied HU | 19,014 (72.3%) |
| Vacant Housing Units | 2,667 (10.1%) |
| Median Home Value | $758,455 |
| Average Home Value | $819,112 |
Housing Distribution
Address Breakdown
Residential
24,092
Single Family
4,920
Multi-Family
19,172
Businesses
1,599
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Listed by: Amjad Musallam • The Westwood Real Estate Group
Mls Name: CRMLS
Mls ID: #PW26005933