1001-1015 E 20th St Long Beach
Multifamily | 10 Units | $245,000/unit
Marketing description
We are pleased to present the opportunity to acquire a well-performing 10-unit multifamily investment in the heart of Long Beach. Located at 1001–1015 E 20th Street, this asset offers a highly desirable mix of spacious 1, 2, and 3 bedroom units totaling approximately 9,641 rentable square feet on a 10,991 SF lot.This building has the lowest price per foot metric and the highest CAP rate metric on the market currently!! The building delivers immediate day-one cash flow with a current CAP rate of 7.33%, while significant upside remains through rental increases and a potential ADU addition via an existing structure. Pro forma projections push returns to a 9.27% CAP and over 21% cash-on-cash return. Additional features include gated parking lots for tenants and separate gas & electric meters, helping keep operating costs low. Property to be sold As-Is. Inquire for further details.
Investment highlights
Excellent Unit Mix - (1) 3Bed+2Bath | (7) 2Bed+1Bath | (1) 1Bed+1Bath
Current GRM: 9.31 | Market GRM: 7.82
Current CAP: 7.33% | Market CAP: 9.27%
Building: 9,641 sqft | Lot Size: 10,991 sqft
Gated Parking for Tenants with Possible ADU conversion of an existing structure
Separately metered for Gas & Electricity
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