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Long Beach Trophy Property | $2,150,000

Long Beach Trophy Property | $2,150,000

Lyon | Stahl is pleased to present 7 38th Place in Long Beach!

Desirable Long Beach location, perfect for an owner user or as an investment opportunity. Current Owner occupies the bottom unit and currently renting the top unit as vacation rental bringing in over $6500 per month. The property is advertised at $500 per night through various vacation rental sites. The seller is extremely motivated to get this property sold.

Listed at $2,150,000, this building was built in 1940, has a cap rate of 2.02%, a GRM of 12.82 and a NOI of $40,440.

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Investment Highlights:

  • (2) 2 Bed / 1 Bath Units
  • 3 lots away from the sand
  • Walking distance to 2nd street shops / restaurants
  • Private street with no city street sweeping
  • 5 garages with 5 additional parking spots
  • Ocean view unit rents for up to $6500/month
  • Large patio deck for entertaining
  • New outdoor paint
  • Each unit has extra space for an office or additional bedroom

 

To learn more about this property:

 

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