New Listing – 4-Unit Value-Add Asset in Long Beach
Cameron Samimi is proud to present 937 E 20th St, a 4-unit multi-family property for sale in Long Beach!
This 5,304 Sq Ft property is offered for $1,250,000 and has a 5.23% CAP rate
Offering a 5.23% Cap Rate on current rents, 10 parking spots, four 3 bedroom units, and a 9,000 square foot lot, this is by far one of the best 4 unit opportunities to hit the market in the fastest growing Beach city of Los Angeles.
All units are currently rented and have room to grow the cap rate to over a 7.53%. It’s very rare to have parking in Long Beach and many neighbors charge $150 per space. You can lease these spaces to tenants and neighbors for extra income.
One of the largest 4-unit properties to hit the market, this value-add 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.
Long Beach has emerged as a popular coastal community in Southern California. Located south of the city of Los Angeles, it has a population of about 471,000. Located near the 405 and the 710 freeways, and with access to the Metro Blue Line train, Long Beach provides easy commutes to major employment hubs in Los Angeles and Orange County. Long Beach is also home to major businesses such as Verizon, Molina Healthcare, and the Port of Los Angeles.
Dozens of projects are transforming the city’s landscape, with more than $2.5 billion in capital pouring into Long Beach. These include the Douglas Park Redevelopment, a 261 acre mixed-use project on the site of the former Boeing campus. It will bring over 5000 jobs to Long Beach and will be home to nearly 30 businesses such as Mercedes–Benz US West headquarters and Virgin Galactic.
To learn more about this property:
- Download the marketing package here
- View the listing here
- Contact Cameron Samimi at Cameron@lyonstahl.com – (310) 880-3855