The Eleventh Street Apartments is a nine-unit apartment building located in the Willmore Historic District within the strong rental market of Long Beach, California. The property offers a desirable unit mix of (5) two bedroom/ one bathroom units and (4) one bedroom/ one bathroom units totaling 6,395 square feet, situated on a 9,895 square foot lot. The building has recently gone through extensive interior and exterior renovations including, but not limited to: new roofs, garages, windows, complete interiors, fencing, concrete, and plumbing. Tenants also enjoy washer and dryer hookups in each unit, large fenced patios/yards, and enclosed garages. The Eleventh Street Apartments represents an opportunity for an investor to acquire a very stable investment with a 5.31% CAP Rate and 7.26% Total Return on current income. The location offers high visibility in an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.
Listing courtesy of Greg Bassirpou from Marcus & Millichap RE Invest
Listing sold by Jonathan Swire from The Agency
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.