Just Closed – 4-unit Building in Long Beach | $860,000
Lyon | Stahl is excited to have closed 310 E 8th Street, a 4-Unit building located in Long Beach!
This spacious 4-plex in the heart of downtown Long Beach has two 2-bedroom/1-bath units plus two extra large 1-bedroom/1-bath units.
Each 1-bedroom unit has a bonus dining room/office and front porch. The units feature vintage built-in cabinets, high ceilings, and hardwood floors. Below market rents allow for a very achievable market cap over 6%.
The 8th Street Apartments are situated just blocks from the ocean. And $2.5 billion in developments are coming to the nearby area including the $520 million Civic Center project, $250 million Queen Mary Island waterfront development, and $53 million Long Beach
One of the larger 4-unit properties on the market, this turn-key asset is the perfect investment for an exchange buyer or owner looking to own a piece of one of Southern California’s last affordable beach communities.
• Located in the heart of downtown Long Beach in the desirable East Village Arts District
• Close freeway and transit access
• Walker’s Paradise with a 94 Walk Score
• Value Add Property with 33% upside in rent
• Monthly parking available across the street
• Copper Plumbing
• New Water Heater
• Newer Sewer Line
• Separately Metered for Gas and Electric
• One bedroom units have large dining room/ bonus office
• Large walk-in closets
• Beautiful hardwood floors
• Original Built-in Cabinets