We are pleased to present a completely turn-key apartment building located in Long Beach, California. Built in 1959, the subject property consists of 6,450 rentable square feet spread throughout a 6,500 square foot lot. Eight units are 2 bedroom / 1 bathroom units and one unit is 3 bedroom / 2 bathroom. There are 6 garages and storage for tenant convenience and can also be used to generate income for the owner. It has a pitched roof and is also separately metered for gas and electricity which helps keep expenses to a minimum. There is also a laundry room which makes additional income. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was recently completed and opened in September 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market with strong in place income in one of the best neighborhoods of Long Beach.
Listing By Marcus & Millichap – Kevin King
Data Last Updated 5:15PM - 9/28/2021
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