3333 & 3337 E 15th St, Long Beach, CA 90804

3333 & 3337 E 15th St, Long Beach, CA 90804

Long Beach, CA

Property Description

Lyon | Stahl is pleased to present 3333-3337 E. 15th St., a beautiful 6-unit property located in the highly desirable traffic circle area of Long Beach.

Built on a 6,778 SF lot, the property consists of (1) 1-bed/1-bath HOUSE, and (5) 1-bed/1-bath units. Well maintained and landscaped, the property is equipped with 4 garages, and a total of 8 parking spaces. Plenty of upside in market rents, and a very achievable CAP of 6.54 cap rate and 11 GRM. This area attracts business professionals and college students alike with its close proximity to the 405 and Pacific Coast Highway.

The back house is quite large and can be rented for 1800 a month. Parking in the area rents for $150 a space and two of the front units will be delivered vacant at the close of escrow allowing for someone to increase the rents to market. This asset is the perfect investment for an exchange buyer or owner looking to own a piece of one of Southern California’s last affordable beach communities.

Property Features

  • Sale Price: $1,252,000
  • Area Size: 3,284 SF
  • Land Area: 0.15 Acres
  • Year Built: 1960
  • Closing Date: 7/30/18
  • Units: 6
  • Market GRM: 10.79
  • Market Cap Rate: 6.68%

Lyon Stahl Investment Real Estate

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