New Listing – Adobe Style 8-Unit Building in Long Beach
Lyon | Stahl Investment Real Estate is pleased to present this large, adobe style 8-unit building at 544 E 15th St in Long Beach!
Offered at $1,775,000 544 E 15th St has the perfect combination of cash flow and character
The adobe exterior design gives life to the massive 6,613 square foot building while the gross income provides the financial security desired by investors. The building consists of (5) large 1-bed/1-bath units and (3) 2-bed/1-bath units. The units feature a mixture of hardwood floors, spacious dimensions, and various vintage built-ins and finishes. The building captures the essence of an ideal multifamily investment property with good cash flow, room for rent growth, desirable location, and in a prime rental market.
544 E 15th St is situated just blocks from PCH and minutes from the $520 million dollar Civic Center redevelopment, the $250 million Queen Mary Island waterfront development, the $53 million dollar Long Beach Aquarium expansion, and dozens of other new high rise and entertainment developments planned for downtown Long Beach. Do not this opportunity to own one of Long Beach’s finest investments in California’s last affordable beach side community.
• Situated in heart of Long Beach
• Over 5% current cap with room for growth
• Large adobe style building with 5 garages
• Unit mix: (5) 1-bed/1-bath units, (3) 2-bed/1-bath units
• Robust rental market offers long term security/upside
Long Beach has emerged as a popular coastal community in Southern California. Located south of the city of Los Angeles, it has apopulation of about 471,000. Located near the 405 and 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 mixeduse 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.