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Listed by Jeff Kim • eXp Realty of California, Inc.
$ 3,900,000
Est. payment | /mo
13,641 SqFt
$ 3,900,000
Est. payment | /mo
13,641 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 13,641 sqft
Price per Sqft $285
MLS Listing ID CRPTP2407022
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1964
Lot Size 7,559 Sqft
Property Sub-Type Other
Property Description
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, the CAP Rate: 6.17%, 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.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Community Facility
Building
Lot Description Level
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Adam Shoop
Broker Associate at Exp Realty | Lic# 1782227