715 Ultimo Ave - Multi-Family FOR SALE


Long Beach, CA 90804- Belmont Heights
$1,800,000 USD
949-200-7494
715 Ultimo Ave, Long Beach, CA for Sale
$1,800,000 USD
Multi-Family - FOR SALE
1/9
null | 7.18% Cap Rate

715 Ultimo Ave
Long Beach, CA 90804
Belmont Heights


HIGHLIGHTS

  • High-yield mixed-use opportunity located in the desirable Alamitos Heights neighborhood of Long Beach
  • Attractive in-place income | Offered at a 7.18% CAP Rate and 8.63 GRM
  • A total of 10 residential units and 2 ground-level office spaces
  • 2 separate buildings on a single parcel | A Triplex at 715 Ultimo Avenue and a mixed-use building at 5547 East 7th Street
  • One (1) of the original office spaces has been converted into two (2) non-conforming studio units
  • Minutes from Cal State Long Beach, 2nd & PCH, and Marina Pacifica | Surrounded by an abundance of retail, restaurants, grocery, parks, & schools

OVERVIEW

Matthews Real Estate Investment Services, as the exclusive agent, is proud to present 715 Ultimo Avenue, a high-yield mixed-use opportunity located in the desirable Alamitos Heights neighborhood of Long Beach. Positioned along East 7th Street near Pacific Coast Highway, this property offers excellent access to Cal State Long Beach, 2nd & PCH, and Marina Pacifica, while being surrounded by a vibrant mix of retail, restaurants, grocery stores, and parks. With convenient access to the 22, 605, and 405 Freeways, residents benefit from direct connectivity to key destinations across Los Angeles and Orange County. The offering includes two separate buildings on one parcel: a Triplex located at 715 Ultimo Avenue and a mixed-use building at 5547 East 7th Street. The mixed-use structure features seven (7) upper-level residential units and two (2) ground-floor office spaces, one (1) of which has been converted into two (2) non-conforming studio units. In total, the combined unit mix includes ten (10) residential units with a blend of 1-bedrooms, 2-bedrooms, studios, bachelors, an office space, and an additional two (2) non-conforming studios, offering a diverse range of income-producing options. 715 Ultimo Avenue represents a great opportunity to acquire a high-performing mixed-use asset in the desirable Alamitos Heights neighborhood of Long Beach. With an attractive in-place CAP rate of 7.18% and 8.63 GRM, the property delivers strong day-one cash flow with additional upside through rental repositioning and long-term rental growth. Its irreplaceable coastal location, diverse unit mix, and compelling investment fundamentals make this an exceptional opportunity for investors seeking both immediate returns and sustainable growth in one of Long Beach’s most supply-constrained submarkets. Broker of Record: David Harrington License No. 02168060 (CA) (866) 889-0550 Matthews Real Estate Investment Services, Inc 2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$310 USD /SF

# OF UNITS

12

PRICE/UNIT

$150,000

CAP RATE

7.18%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

High-Yield Mixed-Use | 7.18% CAP & 8.63 GRM

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

7241-026-022

ASK ABOUT THIS PROPERTY

Kyle MirrafatiMatthews Real Estate Investment ServicesMore Info
949-200-7494

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Kyle MirrafatiMatthews Real Estate Investment ServicesMore Info
949-200-7494

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