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Listed by Doug Rodermund • Morgan Skenderian
$4,800,000
Est. payment /mo
0.61 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25079143
Originating Board California Regional MLS
Year Built 1959
Lot Size 0.608 Acres
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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