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1201 Ohio Ave, Long Beach, CA 90804

$1,849,000

Description

Austin Longwell & Johnnie Stiegler of Lyon | Stahl investment Real Estate are proud to present 1201 Ohio Ave in Long Beach. An amazing opportunity to own a stabilized 7 unit apartment complex in the heart of Long Beach. This property boasts a perfect 2 bedroom/1 bath unit mix all receiving approximately $1,450/month. Close to many of Long Beach’s major attractions, shopping centers, and coveted neighborhoods this property’s location couldn’t be any more centralized. Purchase as a stabilized asset and enjoy the 4.15% CAP from day 1, or remodel and enjoy the almost 30% upside potential in this booming rental market. The possibilities are endless.

Investment Highlights:
● (7) Spacious 2 bed/1 Bath units all making $1,450/month. Cash flowing at day one with tremendous proforma upside
● (4) 1 car garages with tandem parking spots behind them; Opportunity for additional income.
● Located less than a mile from signal hill, the circle area, and other prominent neighborhoods of Long Beach.

Property Downloads

Address

  • City: Long Beach
  • State/county: CA
  • Country: United States

Detail

Updated on April 17, 2019 at 3:37 pm

  • Price: $1,849,000
  • Property Size: 6,604 Sq Ft
  • Land Area: 5,852 Sq Ft
  • Year Built: 1963
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 7
  • NOI: $80,442.26
  • GRM: 14.98
  • CAP RATE: 4.41%
  • Price per Unit: $260,714.29

Contact info

Austin Longwell
Austin Longwell
(424) 781-4651(626) 408-4420
Linkedin
Johnnie Stiegler
Johnnie Stiegler
(310) 990-9685(310) 447-2213

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