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$2,450,000
Est. payment /mo
6 Beds
4 Baths
0.25 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25120396
Bedrooms 6
HOA Y/N No
Lot Size 0.252 Acres
Property Sub-Type Res Income 2-4 Units
Property 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 10011015 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.
We are pleased to present the opportunity to acquire a well-performing 10-unit multifamily investment in the heart of Long Beach. Located at 10011015 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.
We are pleased to present the opportunity to acquire a well-performing 10-unit multifamily investment in the heart of Long Beach. Located at 10011015 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.
Location
State CA
County Los Angeles
Area Long Beach (90806)
Zoning Assessor
Building
Lot Description Curbs
Story 2
Level or Stories 2 Story
Others
Monthly Total Fees $458
Acceptable Financing Cash, Conventional
Space Rent $1,400
Listing Terms Cash, Conventional
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Listed by John Stiegler II • Lyon Stahl Investment Real Estate, Inc.