Thornton Realty

INVESTMENT OPPORTUNITY!
Coming out of a 1031 Exchange?
Need an up leg? This may be the opportunity that you are looking for...

Well-maintained, two bedroom, one bath craftsman house on LBR2 Lot with a one-car garage and a long drive way. The long-term existing tenant has less than two years remaining on lease. Recent State laws may allow additional units to be added to parcel by buyer. Great location near Zaferia District/Anaheim Corridor in Eastside Long Beach California. Newer roof, updated electrical and plumbing with existing tenant, make this turn-key for an investor.

Offered at $850,000 - Make offers Subject to Inspection
Do Not Disturb Tenants.

Seller may consider cooperating with buyer's 1031 Exchange at no cost to seller, depending on acceptable terms.

Check out MLS Listing # PW26088667 for details and more photographs.

Brian Patrick Thornton, Broker
Thornton Realty (CalDRE 00878594)
(562) 431-5551 Office
(562) 756-9354 Mobile

Information is deemed correct but is not guaranteed. Prospective buyers to verify information to their own satisfaction.

At Long Beach Broker Preview meeting, broker tour to follow.

Long Beach CA came in at number 16

A new study broke down exactly how much you need to make in order to live comfortably in San Diego.

https://fox5sandiego.com/news/local-news/san-diego/cost-living-cities-study/

Hm?

$2M OVER ASKING: A Bay Area home recently sold for $2 million over the asking price. "It was a shocker to me," realtor Tal Klein said. "I knew it was a good house, I just didn't know how much people would spend to be in it."

STORY BELOW:

Insurance affects affordability

Insurance is having a growing impact on condo affordability Fannie Mae and Freddie Mac’s latest condo policy changes may ease insurance-driven affordability pressures, but stricter project review standards could create new financing hurdles for lenders and buyers.

“Manhattan’s rental market has become more challenging than ever for home seekers."

This article mixes up details of Prop 13. The property tax rate under the law is 1% of the sale price with 2% increases each year (compound interest).

In this man's case, the $130,000 initial impact fees represent about 13.6% of his construction budget. As most people know, construction projects often take longer than planned, and often have cost overruns. But permits usually expire, and require extension fees, plus add some of the fees are based on costs of construction, so his initial $130,000 could balloon to a higher figure if he didn't back out of the deal.

Because the municipal impact fees are so high, the project wasn't built. If it had been built the property tax revenue of $15,000 or more each year compounded was lost. More moderate costing impact fees would result in more projects built and a long term income stream from higher property taxes.

How a dream home in Wildomar was dashed by California’s steep impact fees Marine veteran Francisco Sanchez walked away from his dream home in Wildomar, disheartened by the development fees that gobbled up his budget.

Commercial to residential conversions may help alleviate housing crisis in California.

Pasadena Bank Finances Wave of Office-to-Housing Conversions Across L.A. County – Pasadena Now Daily Newsmagazine and City Guide to Pasadena, California featuring local news, breaking news, events, weather, sports news, schools news, shopping, restaurants and more from Pasadena Now

Who else remembers their mother adding water to Minute Maid frozen concentrated orange juice?

Beloved drink in stores since 1946 will soon be gone, Coca-Cola says The juices will be off shelves by April.

Lakewood Mutuals, Lakewood CA 90712

Newly Constructed ADU For Rent/Lease

One Bedroom, one bath, private fenced patio, shared driveway parking.
Kitchen features quartz counters, maple cabinets, Frigidaire stainless steel stove and refrigerator.
Bath features walk-in shower.
Stacked washer/dryer in unit.
Recessed lights, vinyl windows, and luxury vinyl plank flooring throughout home.
Separate utility meters, water heater, HVAC
Shown by appointment only
Do not disturb tenants in front house

$2600 per month

Thornton Realty CalDRE 00878594
Brian P Thornton GRI
(562) 431-5551 office/landline
(562) 884-4960 cell

Information deemed correct, not guaranteed, subject to prior lease or removal from market.