529 W 10th St - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,500,000 USD
626-399-2415
529 W 10th St, Long Beach, CA for Sale
$1,500,000 USD
Apartments - FOR SALE
1/17
null | 5.67% Cap Rate

529 W 10th St
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Meticulously Renovated Five Unit Property minutes from Downtown Long Beach
  • Over $320,000 has been spent renovating the entire property along with replacement of the major systems- no expense spared
  • Newer roof with ALL major systems replaced, including PEX plumbing throughout and new electrical sub panels and wiring
  • Detached two car garage in the rear that could be converted into an ADU- ability to expand footprint and build up to two stories via SB1211
  • Sub 500k down payment needed for loan- while achieving close to a 6% cash on cash return! Perfect for smaller 1031 exchange

OVERVIEW

Young Lewin Advisors is pleased to present 529 W 10th Street, a meticulously renovated five-unit property on a large 7,750 square foot lot located just minutes from Downtown Long Beach. The property is comprised of a spacious four bed/two bath house along with two duplexes, each featuring one bed/one bath units. Over $320,000 has been invested in exterior/interior renovations and system upgrades with no expense spared. Improvements include a newer roof, PEX plumbing throughout, new electrical subpanels along with the complete interior remodel of every unit—delivering a true turnkey investment. The detached front house has three surface spaces- a rarity for the area. The two duplex tenants enjoy a total of four spaces (two tandem) in the garage area- a premium for the area! A detached two-car garage sits at the rear of the property, providing an excellent opportunity for conversion into an ADU and the ability to expand the footprint up to two stories via SB-1211. With a sub-$500,000 down payment required and the potential to achieve close to a 6% cash-on-cash return, 529 W 10th Street presents an exceptional opportunity for both smaller 1031 exchange buyers and local investors seeking a high cashflow low maintenance property for years to come .

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$415 USD /SF

# OF UNITS

5

PRICE/UNIT

$300,000

CAP RATE

5.67%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,750 SF

ZONING

0500

APN/PARCEL ID

7272-008-023

ASK ABOUT THIS PROPERTY

Jack JorgensenYoung Lewin AdvisorsMore Info
626-399-2415

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

Jack JorgensenYoung Lewin AdvisorsMore Info
626-399-2415

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