181 Argonne Ave, Long Beach, CA 90803

181 Argonne Ave, Long Beach, CA 90803

Long Beach, CA
$2,310,000

Property Description

Lyon Stahl is excited to present 181 Argonne Ave, an 8-unit located in the highly sought-after Belmont Shore community. The 8-unit was built in 1951 and consists of 3,110 SF of living space situated on a 3,059 SF lot. 181 Argonne Ave offers a great unit mix consisting of (1) 2-bed/1-bath  unit, (6) 1-bed/1-bath units, and (1) studio. The property has been well maintained and features a 1-car garage.

Located just steps from the ocean in one of the strongest rental markets in California – this is a perfect opportunity for a yield-focused investor looking to purchase an A+ asset in one of the most desirable rental markets in Southern California.

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Property Features

  • Sale Price: $2,310,000
  • Area Size: 3,110 SF
  • Land Area: 3,059 SF
  • Year Built: 1951
  • Listing Date: 9/4/2020
  • Closing Date: 02/04/2021
  • Units: 8
  • Current GRM: 16.21
  • Current Cap Rate: 3.90%
  • Price Per Unit: $324,375
  • Market GRM: 14.54
  • Market Cap Rate: 4.58%
  • Current NOI: $101,119

Lyon Stahl Investment Real Estate

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