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Updated inside and out, this 16-unit apartment community boasts a desirable unit mix of all 2-bedroom and 1-bathroom units. Featuring a new roof, new exterior railings, improved decks and walkways, select window replacements, and 9 recently renovated unit interiors, this property is well-maintained and ready for a smooth transition to the next owner. Five units were recently remodeled top to bottom with new paint, flooring, light fixtures, brand new kitchens and bathroom finishes. Four additional units have been partially updated. This property offers additional income potential with architectural plans to convert 8 garage spaces into 4 ADUs in progress - current Owner already passed the pre-planning stage with the City. All existing units are metered separately. 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. At 100% occupancy, this property has a CAP rate of 5.52%, not including the proposed ADUs. This apartment community is located near East Village Arts District and Downtown Long Beach where you will enjoy the variety of local parks, restaurants, cafes, and so much more.
Property Type(s):
Residential Income
| Last Updated | 12/18/2024 | Year Built | 1964 |
|---|---|---|---|
| Community | Long Beach | Garage Spaces | 8.0 |
| County | Los Angeles |
Additional Details
| APPLIANCES | Electric Range, Refrigerator |
|---|---|
| AREA | Long Beach |
| GARAGE | Garage, On Street, Yes |
| HOA DUES | 0 |
| LOT | 7559 sq ft |
| LOT DESCRIPTION | Level |
| PARKING | Garage,On Street |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| ZONING | Commercial |
Location
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Listed with eXp Realty of California, Inc.
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