435-437 W 11th St - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,940,000 USD
310-948-2631
435-437 W 11th St, Long Beach, CA for Sale
$1,940,000 USD
Apartments - FOR SALE
1/15
null | 6.5% Cap Rate

435-437 W 11th St
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Priced to sell at 9.8 GRM and 6.5% CAP with rental upside to a 9.1 GRM.
  • EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.
  • Most units have private parking and outdoor patios.
  • Located blocks from Downtown Long Beach and $8BB in Redevelopment.
  • 9.1 GRM and 7.3% CAP at market rents.
  • NO Local Rent Control.

OVERVIEW

PRICED REDUCED AND READY TO SELL. Priced to sell at 9.8 GRM and 6.5% CAP with upside to 9.1 GRM and a 7.3% CAP. NO Local Rent Control. 9 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.8%). Located on the West Side, blocks from Downtown where over $8BB of redevelopment is occurring. On a beautiful, quiet, tree-lined street. The property is professionally managed and well-maintained. All units have their own private parking included, and most have a private outdoor patio. All have W/D hookups. All units have their own water heater. Escape Los Angeles Rent Control (RSO) and invest in a more landlord-friendly environment - welcome to Long Beach. Stop dealing with difficult tenants and a City that wants to continue to stifle your annual rent increases. Instead, own a building located blocks from the Ocean. A new owner can raise rents to market and achieve a 9.4 GRM and 7.2% CAP. Earn over a 9.5% cash-on-cash return at market rents. Qualified Buyers can put down as little as 30% with lender financing. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND OM.

FOR SALE DETAILS

PRICE

$1,940,000 USD

PRICE/SF

$304 USD /SF

# OF UNITS

9

PRICE/UNIT

$215,556

CAP RATE

6.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1936

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

LBPD10

APN/PARCEL ID

7272-004-034

ASK ABOUT THIS PROPERTY

Jon SwireThe AgencyMore Info
310-948-2631

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Jon SwireThe AgencyMore Info
310-948-2631

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