Available For Sale - Multifamily

13,641 SF | Show Pricing $

LISTED BY

Sam Griffin CBI
eXp Commercial, 502-640-3622

AVAILABILITY DETAILS

Size
13,641 SF
Price/SF
Show Pricing $
Listing ID
SA557790
Notes
16-unit apartment community located near the East Village Arts District and Downtown Long Beach where you will enjoy the variety of local parks, restaurants, cafes, and so much more. Each of the (16) units consists of 2 bedrooms and 1 bathroom. (6) of the units have been fully remodeled with updated flooring, modern kitchens, which include stainless steel appliances, updated bathrooms, and modern fixtures throughout. (2) additional units have been partially updated. Seller installed brand new railings, as well as a new roof has been installed. All units are metered separately, and double-pane windows have been installed to increase energy efficiency. There is a controlled-access gate for extra privacy and security for all tenants. A community laundry room is offered on the property and can acquire extra income. Additional income potential to convert the (8) garage spaces into (4) ADUs, seller has architectural plans and permitting in process. The pro-forma CAP rate based off of full occupancy is 5.55%, not including the ADUs.



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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
Sam Griffin CBI, eXp Commercial
BRE# 207824