5245 E Carson St, Long Beach, CA 90808
- beds · - baths · 3,561 sqft
Charming 4-Unit Investment Opportunity in Desirable Lakewood Village Located in one of Long Beach’s most sought-after neighborhoods, this rare 4-unit property presents a fantastic opportunity for both investors and owner-occupants. The building features three spacious 2-bedroom units and one 1-bedroom unit, each offering private front and rear entrances and a comfortable, functional layout. Three of the units were remodeled approximately 3 years ago with upgraded tile flooring, PEX plumbing, modern kitchen cabinetry, and fixtures. Property Highlights: • Strong Existing Cash Flow: The property currently generates over $10,100 per month in rental income—not including potential income from the five unrented garages. • Updated Interiors & Private Access: Well-maintained units with classic hardwood floors (in several), upgraded finishes in remodeled units, and excellent natural light throughout. • In-Unit Laundry Hookups + Central Facility: All three remodeled units include their own laundry hookups, in addition to a shared on-site laundry area for tenant convenience. • Unrented Garages – Additional Income Potential: With market rents in the area averaging ~$249/month per garage, the five garages could add nearly $15,000/year in additional revenue. • Low-Maintenance Operations: Each unit is separately metered for gas and electricity, with tenants covering their own utility costs. Landscaped grounds are maintained by an automatic sprinkler system. • Prime Location Across from Heartwell Park: Tenants enjoy direct access to walking and biking trails, a duck pond, outdoor fitness course, and community library. Close to Cal State Long Beach, Long Beach City College, and an abundance of nearby shopping, dining, and entertainment options. A Smart, Versatile Investment Ideal for buyers seeking a stable, income-generating asset with long-term upside, or for owner-occupants looking to live in one unit while offsetting expenses with rental income. Creative financing options may be available—contact listing broker for details. Showing Remarks: Fully occupied. No showings at this time.
Source: CRMLS #PW25046653
All values shown are estimated costs / mo.
Source: Public records
Source: CRMLS #PW25046653
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 620, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.