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Listed by Keaton Quaack • Lyon Stahl Investment Real Estate, Inc.
$2,295,000
Est. payment /mo
5,034 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,034 sqft
Price per Sqft $455
MLS Listing ID CRSB25092114
HOA Y/N No
Year Built 1925
Lot Size 5,201 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
We are pleased to exclusively offer for sale this 9 Unit Multi-Family investment located in the vibrant 90804 submarket of Long Beach. This 5,201 SF lot is centrally positioned in Long Beach and offers tenants convenient access to the entirety of the city as well as the confluence of both Los Angeles and Orange County freeway systems. In addition to the building’s excellent location, it has an outstanding unit mix consisting of (2) 2 Bed/2 Bath Units, (2) 2 Bed/1 Bath units, and (5) 1 Bed/1 Bath units. Further, the front house has a new roof and many of the major electric and plumbing systems have been upgraded. This kind of meticulous management is indicative of a well-run operation providing a smooth, headache free investment. As it stands, the offering presents strong day one income with a current CAP Rate of 6.25% as well as a GRM of 10.58 and future upside with a pro forma CAP Rate of 7.42% and GRM of 9.36. Along these lines, the property features onsite washer and dryer hookups allowing investors an easy avenue to increase their annual Cash Flow upon acquisition. All in all, the building is a half mile from Retro Row and just over a mile from the Traffic Circle and the vast dining, shopping, and entertainment options therein. This provides much optimism for continued rent
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace, Other
Cooling Central Air, Wall/Window Unit(s)
Flooring Vinyl, Wood
Fireplace No
Laundry Other
Exterior
View Other
Building
Lot Description Corner Lot, Other, Front Yard
Water Public
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