1365 Stanley Ave, Long Beach, CA 90804

1365 Stanley Ave, Long Beach, CA 90804

Long Beach, CA

Property Description

We are pleased to present this pride of ownership 4-unit apartment complex located at 1365 Stanley Ave in the Zaferia neighborhood, which is undergoing extensive improvements and gentrification. This very large well-maintained 4,896 Sq Ft building is situated on a 6,449 SqFt lot. This property consists of (4) 2-bed/1-bath units roughly 1,200 SqFt each, including four detached garages accessed from the back alley with potential for ADU additions (buyer to verify). In 2020 apartment A (ground floor) has gone through a complete renovation, while keeping the historical charm and character. Other recent upgrades in 2023 include newer 12 year old roof inspected, and preventative maintenance conducted with high quality silicone roof coating applied by Barlett Roofing, new paint on the entire exterior of building and trim, and some new windows have been replaced. This property has low maintenance landscaping that is serviced bi-monthly. The City of Long Beach conducted an inspection of the property in April of 2023 as part of a new Proactive Rental Housing Inspection Program (PRHIP). All building, and sanitation code/ordinance standards met/exceeded. Don’t wait as this great opportunity will not last for long.

Property Features

  • Sale Price: $1,400,000
  • Area Size: 4,896 Sq. Ft.
  • Land Area: 6,449 Sq. Ft.
  • Year Built: 1928
  • Listing Date: 5/30/2023
  • Units: 4
  • Current GRM: 17.28
  • Current Cap Rate: 3.52%
  • Price Per Unit: $337,500
  • Market GRM: 11.97
  • Market Cap Rate: 6.01%
  • Current NOI: $ 47,572