46 E Plymouth St - Apartments FOR SALE


Long Beach, CA 90805- Bixby Knolls
$2,475,000 USD
714-608-3255
46 E Plymouth St, Long Beach, CA for Sale
$2,475,000 USD
Apartments - FOR SALE
1/5
null | 5.5% Cap Rate

46 E Plymouth St
Long Beach, CA 90805
Bixby Knolls


HIGHLIGHTS

  • Attractive Unit Mix: 100% Two-Bedroom Units / Recent Capital Improvements: New Windows, Garage Doors, & Electrical Sub-Panels
  • Close to Desirable Bixby Knolls Area & Virginia Country Club / Ample On-Site Parking: Six (6) Enclosed Garages With Additional Driveway Parking
  • Convenient Location: Close To Schools, Retail, Freeways, Employment Centers, & Entertainment
  • Large On-Site Laundry Facility
  • Strong Returns: 7.0% CAP Rate & 6.6% Cash-On-Cash Return At Market Rents
  • ADU Development Potential

OVERVIEW

The Plymouth Street Apartments is an 8-unit apartment community located in the City of Long Beach, one of the premier rental markets in Los Angeles County, California. Built in 1964, the property features an attractive and consistent unit mix comprised entirely of two-bedroom/ one-bathroom units, totaling approximately 6,808 square feet on a 7,424 square foot lot. Recent capital improvements include new garage doors, new electrical sub-panels, and new vinyl windows. Additional amenities include a spacious community laundry room, six (6) single-car garages with front driveway parking, and one (1) additional surface parking space. This offering presents a rare opportunity for investors to acquire a stable asset generating a 5.5% CAP Rate on current income, with upside potential to a 7.0% CAP Rate at market rents. Located in the highly desirable Long Beach rental market, the Plymouth Street Apartments is well positioned to deliver strong cash flow and long-term value appreciation.

FOR SALE DETAILS

PRICE

$2,475,000 USD

PRICE/SF

$364 USD /SF

# OF UNITS

8

PRICE/UNIT

$309,375

CAP RATE

5.5%

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Plymouth Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,424 SF

ZONING

-

APN/PARCEL ID

7131-008-008

ASK ABOUT THIS PROPERTY

Greg BassirpouMarcus & MillichapMore Info
714-608-3255

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Greg BassirpouMarcus & MillichapMore Info
714-608-3255

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