30 E Market St, Long Beach, CA 90805

30 E Market St, Long Beach, CA 90805

Long Beach, CA
$1,230,000

Property Description

30 E Market St a 4-unit apartment complex in Long Beach, California. The front townhome style units are comprised of (2) two-bed/three-bath units with front patios while the rear building offers (2) two-bed/two-bath units with balconies totaling 4,273 sq ft. Built in 1989, the property comes equipped with full copper plumbing. Tenants will also enjoy washer/dryer hook ups and new dishwashers in each spacious unit. This asset also includes (4) two-car garages providing tenants a 2:1 parking ratio. The property also has secured gated access for the front and rear of the building. Gas and electricity are also separately metered keeping landlord expenses to a minimum. With (3) units being delivered empty and ready for renovation/rent, the building provides investors an opportunity to acquire an asset with true value-add potential.

Property Features

  • Sale Price: $1,230,000
  • Area Size: 4,273 Sq. Ft.
  • Land Area: 6,508 Sq. Ft.
  • Year Built: 1989
  • Listing Date: 6/1/2023
  • Units: 4
  • Current GRM: 11.86
  • Current Cap Rate: 6.13%
  • Price Per Unit: $305,675
  • Market GRM: 10.58
  • Market Cap Rate: 7.13%
  • Current NOI: $75,431

Lyon Stahl Investment Real Estate

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