$ 2,150,000
-
$2,150,000
Price -
8
Bed -
8
Bath -
5,034
SqFt
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About the Listing SB1310620 - SBQUAAKEA
We are pleased to exclusively offer for sale this 9 Unit Multi-Family investment located in the vibrant 90804 submarket of Long Beach. This 5,201 SF lot is centrally positioned in Long Beach and offers tenants convenient access to the entirety of the city as well as the confluence of both Los Angeles and Orange County freeway systems. In addition to the building’s excellent location, it has an outstanding unit mix consisting of (2) 2 Bed/2 Bath Units, (2) 2 Bed/1 Bath units, and (5) 1 Bed/1 Bath units. Further, the front house has a new roof and many of the major electric and plumbing systems have been upgraded. This kind of meticulous management is indicative of a well-run operation providing a smooth, headache free investment. As it stands, the offering presents strong day one income with a current CAP Rate of 6.75% as well as a GRM of 9.91 and future upside with a pro forma CAP Rate of 8.00% and GRM of 9.91. Along these lines, the property features onsite washer and dryer hookups allowing investors an easy avenue to increase their annual Cash Flow upon acquisition. All in all, the building is a half mile from Retro Row and just over a mile from the Traffic Circle and the vast dining, shopping, and entertainment options therein. This provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.
Listing Highlights for 938 Stanley Ave
Status
Active
Days on Site
131
Property Type
Multi-Family
MLS ®
SB25092114
Year Built
1925
Total Square Footage
5,034
Lot/Acreage
0.12
Interior Details
- Bedrooms: 8
- Bathrooms: 8 Full
- Appliances: 6 Burner Stove, Dishwasher, Electric Range, Gas Oven, Microwave, Refrigerator, Water Heater
- Air Cond: Central Air,Wall/Window Unit(s)
- Heating: Central,Wall Furnace
- Fireplaces:
- Floor: Vinyl,Wood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Balcony,Ceiling Fan(s),Copper Plumbing Partial,Granite Counters,Pantry,Storage
- Water: Public
Exterior Details
- Lot Description: Corner Lot,Front Yard,Rectangular Lot,Near Public Transit,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LBR2N
- Roof: Flat
- Others: 2+ Total Units
- Sewer: Sewer Paid
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7262014013
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
938 Stanley Ave Long Beach, CA 90804
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