679 Obispo Ave - Apartments FOR SALE


Long Beach, CA 90814- Eastside Long Beach
$1,350,000 USD
310-561-4776
679 Obispo Ave, Long Beach, CA for Sale
$1,350,000 USD
Apartments - FOR SALE
1/36
null | 4.72% Cap Rate

679 Obispo Ave
Long Beach, CA 90814
Eastside Long Beach


OVERVIEW

Perfectly located Historic Rose Park South four unit property on the market for the first time in nearly 25 years. Excellent unit mix with two large 2 bed/1 bath units and two 1 bed/1 bath units full of historic charm and natural light, all with recently updated interiors. Deep lot with a detached 3 car garage plus 3 parking spaces, and a rear patio ideal for ADU development. Well priced on actual income at 12.5X GRM plus a 12% upside to 11.2X GRM and 5.6% cap rate at market rents. Separately metered for gas and electricity. Nestled between the Rose Park and Bluff Heights neighborhoods of Long Beach. 2 blocks away from 4th Street Retro Row including popular restaurants, shops and bars. Just over 1 mile away from the beach with pedestrian access to the scenic Shoreline Bike Path. Long Beach will host 18 events during the upcoming LA28 Olympics, including several taking place right on the beach.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$425 USD /SF

# OF UNITS

4

PRICE/UNIT

$337,500

CAP RATE

4.72%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,025 SF

ZONING

LBCNR

APN/PARCEL ID

7258-030-013

ASK ABOUT THIS PROPERTY

Anthony WalkerBuckingham InvestmentsMore Info
310-561-4776

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Anthony WalkerBuckingham InvestmentsMore Info
310-561-4776

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