627-629 Molino Ave, Long Beach CA 90814

Very unique and large 2 ON A LOT – DUPLEX in South Rose Park, south of 7th Street, just 1/2 mile to the beach! These 2 houses on a lot consists of a total of 3887 square feet on a 6770 SF lot, and consists of a 3BD, 2BA refurbished Craftsman home in the front (627 Molino) and a huge 2 story 4BD, 4BA house (629 Molino) in the back which was newly constructed in 2003, with side alley access. Fully occupied, this duplex brings in $2350 from the front house (market value $2600) and $3095 from the back house (market $3500) with long term tenants. The back house could further be divided into 2 separate suites, a one bedroom one bath downstairs plus a 3BD, 3BA upstairs. Importantly, this property also has 2 2-car garages (4 garage spaces) plus 2 uncovered designated off-street parking spaces, plus a paved outdoor area. There is a washer and dryer in each of the 2 garages for the tenants’ use. The duplex is completely separately metered and the tenants pay all their own utilities. The owner only covers the gardening which is $55 per month. This is an excellent investment in a non-rent controlled city, and this property has never had a problem attracting great tenants. The possibilities of its use are endless as an owner user can use part of the property while having a great mortgage helper. The property is well maintained and in a great neighborhood near shopping, transit, the ocean and beach, on route to Cal State Long Beach (just one bus ride).

Price:	$1,250,000
Address:	627 Molino Ave
City:	Long Beach
County:	Los Angeles
State:	CA
Zip Code:	90814
MLS:	PW17157788
Year Built:	1911
Floors:	2
Square Feet:	3,887
Lot Square Feet:	6771
Bedrooms:	7
Bathrooms:	6
Garage:	4

Property Type:

Duplex