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 |
Nancy Deprez
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