Available For Sale - Multifamily

9,662 SF | Show Pricing $

LISTED BY

Shane Young
Young Lewin Advisors, 562-556-1118

AVAILABILITY DETAILS

Size
9,662 SF
Price/SF
Show Pricing $
Listing ID
SA551188
Notes
YoungLewin Advisors is pleased to present a well maintained 19-unit apartment building in Long Beach, California.



The property is well-located just steps from Bixby Park and the Pacific Ocean in Long Beach’s vibrant Alamitos Beach neighborhood. The property’s excellent location also offers tenants convenient access to the numerous popular dining, shopping and entertainment opportunities on Broadway, Retro Row and in the rapidly redeveloping Downtown Long Beach.



1912 East 2nd Street consists of a two-story 1923 construction building that contains 11 studios, 6 one-bed/one-bath and 2 one-bed/one-and-one-half bath units. The property is securely gated and boasts a well-maintained art deco facade, an inner

courtyard, and a two-car garage in the rear. Parking is a highly sought-after amenity in this neighborhood and could demand premium additional income. The property also has RUBS in-place to lower ownership's expense.



1912 East 2nd Street is priced attractively at a 11.5 GRM, and a 5.46% cap rate with 18% upside in NOI. The excellent location combined with strong cash flow makes it an outstanding opportunity for an investor to add value and capture substantial potential

upside in rents and long term appreciation.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Shane Young, Young Lewin Advisors
BRE# 01963090