There's some 5+ units available in Long Beach less than $650K.
My first question since you target Long Beach, are you familiar
with Long Beach? Who will manage the property?
What's your goal?
Investment for long term, positive cash flow, etc.
There's other sites where agents post listings not in the MLS.
As the guy from NYC stated its commercial so the down
payment is @35%, financing is not a problem because banks
like Citibank do commercial lending just depends on your
credit score, income, etc.
Hope this helps.
I am a Certified Real Estate investment Planner (CREIP) and can help you find a property that makes sense for your investment goals.
The "scary" part of investing in real estate comes in finding out, after your purchase, that your beautiful 4-unit in the prestigious neighborhood isn't returning any better than your stock portfolio!
That's not to say that investing in an established area is a bad idea - but you usually get better returns on an up-and-coming area where rents may be below market and you have potential for an "upside".
Buying a building with verified rental income, and income that you know you can increase, is a great investment - regardless of the area!
If you'd like to see what's available and work the numbers on a few properties for potential investment, give me a call at (562)706-2235 and I'd be happy to meet with you and bring a list!
Thanks for the question,
Let me know if you need any additional information!