6552 Orange Ave, Long Beach, CA 90805

6552 Orange Ave, Long Beach, CA 90805

Long Beach, CA

Property Description

6552 Orange Ave is a highly sought after 1981 constructed 4-unit apartment building with an attractive unit mix comprised of (1) Three- Bedroom/One-Bathroom, (2) Two- Bedroom/One-Bathroom, and (1) Studio/One-Bathroom. According to county records, the building is comprised of 4,250 +/- of rentable square feet on a 5,576 square foot lot. This is a great value-add opportunity for any investor seeking to benefit from an achievable 40% +/- upside in rental revenue. Current ownership has professionally maintained the asset and has completed several capital improvements to select units including new paint, new flooring, kitchen updates, window updates, copper plumbing and updated bathroom features, making for a hassle-free transition for the new owner. The property also features an off-street parking lot for up to 10 cars and an on-site laundry room generating additional income. Each unit is individually metered for gas and electric and the property’s landscaping needs are extremely low in maintenance costs. This property sits (15) minutes from Long Beach Airport, (30) minutes from LAX Airport, and a mere (3) minutes from major LA County highway I-91, providing easy access to Los Angeles. In addition to being situated in a regional economic and cultural city, this property has the potential for substantial cash flow which should continue to drive both population growth and increased median household income, which ultimately provides much optimism for continued rent growth within the submarket moving forward.

Property Features

  • Sale Price: $1,299,000
  • Area Size: 4,250 Sq. Ft.
  • Land Area: 5,576 Sq. Ft.
  • Year Built: 1981
  • Listing Date: 7/29/2023
  • Units: 4
  • Current GRM: 18.95
  • Current Cap Rate: 4.24%
  • Price Per Unit: $343,750
  • Current NOI: $58,270

Lyon Stahl Investment Real Estate

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