1036-1040 Dawson Ave, Long Beach, CA 90804

14 Unit Apartment Building | $3,795,000 ($271,071/Unit) | 4.81% Cap Rate | Long Beach, CA 90804

Asking Price $3,795,000

Property Type: Multifamily
Square Feet: 10,556 SF

Listing Contacts

Larson Harley

Verified Profile

Property Info

Property Overview

The Harley Group at Lyon Stahl is pleased to present 1036-1040 Dawson Ave, Long Beach. Consisting of two side-by-side 7 unit buildings on separate parcels (14 units in total), the property boasts a desirable unit mix of (6) 2-bed/1-bath units and (8) 1-bed/1- bath units on a 13,009 sq ft lot. There are a total of (8) 1-car garages with tandem parking, along with a laundry room at each building and a new 100 gallon water heater. The garages are separately leased to provide additional income, and there is over 20% in upside rent potential. Located less than a mile from vintage shopping and trendy dining options on Retro Row, this is an excellent value-add investment opportunity
offering growth, stability, and a hedge against inflation.

Property Details

Class: C
Year Built: 1960
Stories: 2
Lot Size (sq. ft): 13,068 SF
Units: 14

Highlights

Two side-by-side 7 unit buildings on separate parcels | 13,009 sq ft combined lot size
Unit mix: (6) 2+1 units and (8) 1+1 units
Annual Gross Income: $289,920 | Over 20% in upside rent potential
Cost/Unit: $271,071 | Cost/Sq Ft: $359
Proforma 6.38% CAP | Proforma 10.73 GRM
Prime Eastside Long Beach location - less than a mile from Retro Row and close proximity to Junipero Beach

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