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OFF MARKET Distressed Assets

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OFF MARKET Distressed Properties - View All

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Property TypeMultifamily (5+)
LocationLos Angeles, California
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TitleLENDER OWNED NEWLY BUILT MODERN 4 STORY CONDO COMPLEX IN LONG BEACH MINUTES TO DOWNTOWN AREA
Summary

Lender Owned 4 Story 36 Unit Condominium Complex with 5 Ground Floor Retail Units
Minutes to the Downtown Area with First Class Shopping, Entertainment and Restaurants & Tourist Destination

Details

Previous owner sold 15 of the condos and 1 retail unit
Remaining is a total of 21 condos and 4 retail units
13 condos are vacant and ready for sale or lease
8 condos being rented at $25,000 per month
1 retail space is rented at $3,817 per month
3 condos in dispute and eviction process
4 retail spaces ready for sale or NNN lease
HOA recently reinstated at $400 per month

Income and Sales Details

Previous owner sold 15 of the condos and 1 retail unit
Remaining is a total of 21 condos and 4 retail units
13 condos are vacant and ready for sale or lease
8 condos being rented at $25,000 per month
1 retail space is rented at $3,817 per month
3 condos in dispute and eviction process
4 retail spaces ready for sale or NNN lease
HOA recently reinstated at $400 per month

Asking Price$11,500,000.00
Date UpdatedMarch 7, 2025