Residential Income Details
4 CAP RATE property blocks from the beach! This 8-unit apartment building is located in the downtown/Alamitos Beach area Long Beach, California. Comprised of two two-story buildings, 1920's construction buildings with 2 parking spots on and 6 large one-bedroom and 2 studio units. Recent upgrades include new hardwood-style flooring, new kitchen hardware, upgraded electrical and new bathroom fixtures. Amenities include, laundry room, storage, balconies, and ceiling fans. The superior location and large unit size makes this property very competitive in a dense rental market. The desirable unit mix make this offering an excellent opportunity for an investor to add value and capture substantial potential upside in rents. The units are separately metered for electricity & gas and can be very low maintenance costs for a new owner. The property is well-located within walking distance of the numerous popular dining, retail and entertainment opportunities available downtown and conveniently near the 710 Freeway. Walk to the beach. Located in prime Alamitos Beach, adjacent to the fast-developing East Village Arts District, Bluff Park, and in close proximity to a multitude of amenities along East Broadway and Ocean Boulevard, two of Long Beach's busiest main streets. Downtown Long Beach has been rapidly redeveloping in recent years, thanks to hundreds of millions of dollars worth of public and private investment. Room to improve the rents for the investor that is looking for a value
|Number of Units||8|
|Listing Brokerage||Coldwell Banker Commercial|
|Listing Agent||George Bustamante|
|Listing Agent BRE #||01484265|
|Co-Listing Agent||J. Steven Warshauer|
|Co-Listing Agent BRE #||00499477|
|Features||Living Room Balcony|
Based on information from California Regional Multiple Listing Service, Inc. as of Friday, August 3, 2018.
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