Eighteen Thrity Seven - 12U in Alamitos Beach

12 Unit Apartment Building | $3,535,000 ($294,583/Unit) | 6% Cap Rate | Long Beach, CA 90802

Asking Price $3,535,000

Property Type: Multifamily
Square Feet: 9,378 SF

Listing Contacts

Patrick Swanson

Verified Profile

Property Info

Property Overview

Priced to move...3 Blocks from the Beach...6% Actual CAP Rate...25%+ Upside! If your client is looking for a "Unicorn" building with a combination of Cash flow, Location, and a Clean property, this is the investment for them. The building includes (10) 1-bedroom units (750+/- sq. ft.), (1) 2-bedroom/1-bath unit, and (1) 2-bedroom/2-bath (owner's unit). Amenities include very large units, upgraded vinyl windows, on-site laundry, six garages (with driveways in front), an electric gated entrance, and a 96 walk score! This rare coastal asset is NOT subject to rent control (other than CA) and is being offered for the first time in 26 years.

Property Details

Class: C
Year Built: 1958
Stories: 2
Lot Size (sq. ft): 8,712 SF
Units: 12

Highlights

6% Actual CAP Rate / 8.21% Pro-Forma CAP Rate
3 Blocks to the Water with a 96 Walk Score!
6 Garages with Parking Behind
Very Large Units!
No Rent Control (Other than CA)

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