1030 Myrtle Ave, Long Beach, CA 90813

1030 Myrtle Ave, Long Beach, CA 90813

Long Beach, CA

Property Description

1030 Myrtle Ave is a 4-unit located in North Alamitos Beach, just a short commute to Long Beach Waterfront, The Queen Mary, and Shoreline Village. The 4-unit was built in 2005 and consists of 3,040 SF of living space situated on a 6,535 SF lot. 1030 Myrtle Ave offers an ideal unit mix consisting of (3) 3-Bed/1-Bath units and (1) 1-Bed/1-Bath unit. The property features (4) 2-car garage spaces, on-site laundry, and separate meters for gas & electric. Located in one of the strongest rental markets in California and currently performing above a 5% cap rate – this is an excellent opportunity for a potential investor to obtain 30-year fixed residential financing while rates are at a historic low.

Property Features

  • Sale Price: 1,475,000
  • Area Size: 6535 SF
  • Year Built: 2005
  • Listing Date: July 7, 2021
  • Closing Date: October 2, 2021
  • Units: 4
  • Current GRM: 13.26
  • Current Cap Rate: 5.34%
  • Market GRM: 12.67
  • Market Cap Rate: 5.67%

Lyon Stahl Investment Real Estate

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