Listed by BUCKINGHAM INVESTMENTS
$2,030,000
1958 Pine
Details
APN 7209017010
Property Type Multifamily
Sub Type Apartment Building
Units 10
Cap Rate 7.30%
Buildings 2
Acreage 0.155
Zoning Assessor
Multifamily | 7.30% CAP | 10 Units
Marketing description
Priced to sell! This well-performing 10-unit building is located in the South Wrigley neighborhood of Long Beach. The rear garages were converted to 2 brand-new 1BD/1BA ADU's at 485 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.85X GRM and 7.3% cap rate. New electrical meters and main installed. This 1950's built property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway, making this a strong rental location for tenants and investors. Tenants can utilize the nearby Metro Line, shopping centers, medical facilities, schools, and dining. Don't miss out on this incredible opportunity! Available for sale with neighboring property, 1952 Pine. Offering memorandum in supplemental materials.
Listing Contacts
Listed by BUCKINGHAM INVESTMENTS
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