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937 E 20th St, Long Beach, CA 90806

$1,250,000

Description

Offering a 5.23% Cap Rate on current rents, 10 Parking, four 3 bedroom units, and a 9000 square foot lot, this is by far one of the best 4 unit opportunities to hit the market in the fastest growing Beach city of Los Angeles.

All units are currently rented and have room to grow the cap rate to over a 7.53%. It’s very rare to have parking in Long Beach and many neighbors charge $150 per space. You can
lease these spaces to tenants and neighbors for extra income.

One of the largest 4-unit properties to hit the market, this value-add 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.

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Address

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

Detail

Updated on April 3, 2019 at 6:08 pm

  • Price: $1,250,000
  • Property Size: 5,304 Sq Ft
  • Land Area: 9,046 Sq Ft
  • Garage Size: 10
  • Year Built: 1911
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 4
  • GRM: 12.89
  • CAP RATE: 5.23%
  • Price per Unit: $312,500
  • Market GRM: 9.83
  • Market CAP RATE: 7.53%

Contact info

Cameron Samimi
Cameron Samimi
(310) 880-3855 (310) 259-7556
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