Listed by BUCKINGHAM INVESTMENTS
$1,350,000
679 Obispo
Details
APN 7258030013
Property Type Multifamily
Sub Type Apartment Building
Units 4
Cap Rate 4.70%
Buildings 2
Acreage 0.092
Zoning Public Rec
Multifamily | 4.70% CAP | 4 Units
Marketing description
Perfectly located Historic Rose Park South four unit property on the market for the first time in nearly 25 years. Excellent unit mix with two large 2 bed/1 bath units and two 1 bed/1 bath units full of historic charm and natural light, all with recently updated interiors. Deep lot with a detached 3 car garage plus 3 parking spaces, and a rear patio ideal for ADU development. Well priced on actual income at 12.5X GRM plus a 12% upside to 11.2X GRM and 5.6% cap rate at market rents. Separately metered for gas and electricity. Nestled between the Rose Park and Bluff Heights neighborhoods of Long Beach. 2 blocks away from 4th Street Retro Row including popular restaurants, shops and bars. Just over 1 mile away from the beach with pedestrian access to the scenic Shoreline Bike Path. Long Beach will host 18 events during the upcoming LA28 Olympics, including several taking place right on the beach.
Listing Contacts
Listed by BUCKINGHAM INVESTMENTS
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Zoning
CNR MixedMixed UseNeighborhood Commercial And Residential
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