544 E 15th St, Long Beach, CA 90813

544 E 15th St, Long Beach, CA 90813

Long Beach, CA

Property Description

Lyon Stahl is pleased to present this large, adobe style 8-unit building at 544 E 15th St. in Long Beach, California.

544 E 15th St has the perfect combination of cash flow and character. The adobe exterior design gives life to the massive 6,613 square foot building while the gross income provides the financial security desired by investors. The building consists of (5) large 1-bed/1-bath units and (3) 2-bed/1-bath units. The units feature a mixture of hardwood floors, spacious dimensions, and various vintage built-ins and finishes. The building captures the essence of an ideal multifamily investment property with good cash flow, room for rent growth, desirable location, and in a prime rental market.

544 E 15th St is situated just blocks from PCH and minutes from the $520 million dollar Civic Center redevelopment, the $250 million Queen Mary Island waterfront development, the $53 million dollar Long Beach Aquarium expansion, and dozens of other new high rise and entertainment developments planned for downtown Long Beach. Do not this opportunity to own one of Long Beach’s finest investments in California’s last affordable beach side community.

<strong>Investment Highlights:
</strong>• Situated in heart of Long Beach<strong>
</strong>• Over 5% current cap with room for growth<strong>
</strong>• Large adobe style building with 5 garages
• Unit mix: (5) 1-bed/1-bath units, (3) 2-bed/1-bath units
<strong>• </strong>Robust rental market offers long term security<strong>/</strong>upside

Property Features

  • Sale Price: $1,630,000
  • Area Size: 6,613 SF
  • Land Area: 6,182 SF
  • Year Built: 1929
  • Closing Date: 12/24/19
  • Units: 8
  • Current GRM: 13.63
  • Current Cap Rate: 5.07%
  • Market Cap Rate: 6.15%

Lyon Stahl Investment Real Estate

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