425 Coronado Ave - Apartments FOR SALE


Long Beach, CA 90814- Eastside Long Beach
$9,800,000 USD
310-463-2916
425 Coronado Ave, Long Beach, CA for Sale
$9,800,000 USD
Apartments - FOR SALE
1/10
null | 4% Cap Rate

425 Coronado Ave
Long Beach, CA 90814
Eastside Long Beach


HIGHLIGHTS

  • Assumable Loan at 3.0% with 62% LTV until May 1, 2027
  • Value Add Opportunity - 16 of the 27 Units Fully Remodeled with Designer Finishes
  • Oversized Units Averaging 886 SF
  • Ample Parking with 27 Parking Spaces, Community Game Room

OVERVIEW

Coronado House is a 27-unit apartment asset located at 425 Coronado Avenue in Long Beach. California. Attractive assumable financing is available at 3.0% with 62% loan to value until May 1, 2027. The property consists of (21) 1BD/1BA units, (3) 2BD/2BA units, and (3) studio units. All units are bright and spacious, with an average size of 866 square feet. Sixteen of the 27 units are fully remodeled with designer finishes. Common amenities that enhance the living experience, include a game room and 27 secured parking spaces. Situated between Bluff Heights and Belmont Heights, Coronado House offers a prime coastal location that is consistently ranked among the top neighborhoods for young professionals. Known for its historic charm, tree-lined streets, and walkability, the area provides convenient access to the beach, Retro Row, and a wide selection of restaurants, bars, coffee shops, and parks. Note: This property may be sold together with Rancho Obispo, the adjacent 21-unit property at 434 Obispo Avenue.

FOR SALE DETAILS

PRICE

$9,800,000 USD

PRICE/SF

$382 USD /SF

# OF UNITS

27

PRICE/UNIT

$362,963

CAP RATE

4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3.0% Assumable Loan

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

LBR3S

APN/PARCEL ID

7257-004-033

ASK ABOUT THIS PROPERTY

Robert SteppStepp Commercial - KWPEMore Info
310-463-2916

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Robert SteppStepp Commercial - KWPEMore Info
310-463-2916

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.