6.2% cap rate on actuals only 3 blocks to the beach! 10.6X GRM on actuals with a 9% upside to 9.7X GRM on market rents and 6.9% market cap rate. Totally remodeled 8 unit (7+1 ADU) property consisting of two buildings with 4 units each and… Read More parking for 5 cars. Corner building consists of four large 900 square foot units with 2 bedroom floor plans upstairs and large 1 bedroom floor plans on ground level. Second building has a brand new 2025 construction 2 bed/1 bath ADU, two studios, and a large 1 bed/1 bath unit. All unit interiors remodeled since 2022, new electrical in 285 building, full paint and exterior refresh just completed. Great curb appeal on a large 8,546 square foot corner lot. Ideal location in the heart of Alamitos Beach only 3 blocks to the sand. 2 blocks from Downtown Long Beach’s East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average households income of $98,000+ (per CoStar research). Directly across the street from the Historic Ebell Club of Long Beach. Read Less
Property listed by Buckingham Investments, Inc, Anthony Walker 310-561-4776
Listing Snapshot
Days Online
22
Last Updated
Property Type
Apartment
Lot Size
0.2 Acres
Year Built
1921
MLS Number
SB25096484
30 Days Snapshot Of 90802
$650k
-9%
(avg) sold price
22
-26%
homes sold
108
+20%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
GasOven, GasRange
Building
Built in 1921, Building area total: 6,096, Levels: Two, 2 stories, 2 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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