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Listed by Doug Rodermund • Morgan Skenderian
$ 4,695,000
Est. payment | /mo
0.61 Acres Lot
$ 4,695,000
Est. payment | /mo
0.61 Acres Lot
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRPW25079143
Year Built 1959
Lot Size 0.608 Acres
Source California Regional MLS
Property Description
**Excellent Unit Mix of 1 & 2-Bedroom Units** **Priced at $184,615/Unit & $273/SF** **10.42 GRM & 6.5% Cap Rate on Current Income** **7.94 GRM & 9.4% Cap Rate on Market Rents** **Easy Upside in Rental Income for a New Owner** **Ideal Rental Location on Residential Street in North Long Beach** ----520 E. Adams Street offers an investor the opportunity to acquire 26 units in the strong rental market of North Long Beach. The property sits on a residential street across the street from Jordan High School and Houghton Park, and has easy access to the 91 & 710 Freeways. Residents enjoy a community pool, covered parking, gated access and an on-site laundry room. --------Also for sale are neighboring properties of 540 Adams, 555 Adams, 560 Adams & 541 E. 64th Street
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Laundry Laundry Area
Exterior
Garage Spaces 26.0
Pool Pool - In Ground, Pool - Yes, Pool - Fenced
Building
Water District - Public
Others
Tax ID 7115028010
Special Listing Condition Not Applicable
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Drew Reid
REALTOR® | Lic# 01332884