3690-3692 Country Club Dr, Long Beach, CA 90807

3690-3692 Country Club Dr, Long Beach, CA 90807

Long Beach, CA

Property Description

Lyon Stahl’s Team Stiegler is pleased to present this unbelievable investment property located in Long Beach. Situated on a rare, gated 12,898 sqft. island lot are (4) 3-bed/2 bath mid-century modern units each over 1,200 sqft. and (4) single car garages. The units are situated within (2) 2 story buildings with all units sharing the same floor plan. The 3692 Country Club building has recently had both units upgraded with newer countertops and laminate flooring while the 3690 Country Club building has newer countertops and carpeting. Both buildings have had their electrical systems upgraded and plumbing updated with full copper plumbing. The property generates extra monthly income from their on-site laundry area with (2) coin operated washers and (2) coin operated dryers.

The property is located in the popular Bixby Knolls neighborhood recently named by the LA Times as one of the most sought after areas in Long Beach. Over the past few years Bixby Knolls has seen a huge amount of changes attracting businesses and people from all over. Bixby Knolls offers residents access to popular destinations such as Steelcraft, Bake and Broil and has recently attracted multiple breweries including Liberation Brew Co., Smog City Brewing, and Dutches Brewhouse to name a few. The property is also located a short distance from the prestigious Virginia Country Club, Long Beach’s premier private golf course.

This property has never seen the open market and is an incredible opportunity for an investor and/or owner-user to own a rare trophy property in an area that is rapidly growing, with upward potential in the current rents.

<strong>Investment Highlights:
</strong>• Unit Mix: (4) 3-Bed/2-Bath Units with natural light<strong>
</strong>• (2) 2,432 SF Two-Story buildings totaling 4,864 SF
• 12,898 SF gated lot with no immediate neighbors<strong>
</strong>• Market 5% CAP &amp; 14.2 GRM in Bixby Knolls!
• (4) Single car garages and street parking<strong>
</strong>• INCREDIBLE LOCATION: Located near Virginia Country Club and popular shopping including Steelcraft
• Property has never been on the open market<strong>
</strong>• Highly sought-after market with limited inventory

Property Features

  • Sale Price: $1,725,000
  • Area Size: 4,864 SF
  • Land Area: 12,196 SF
  • Year Built: 1959
  • Closing Date: 10/18/19
  • Units: 4
  • Current GRM: 16.16
  • Current Cap Rate: 4.23%
  • Price Per Unit: $450,000
  • Market GRM: 14.29
  • Market Cap Rate: 5.02%

Lyon Stahl Investment Real Estate

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