717 E 8th St - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,095,000 USD
310-982-7055
717 E 8th St, Long Beach, CA for Sale
$1,095,000 USD
Apartments - FOR SALE
1/15
null | 5.7% Cap Rate

717 E 8th St
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • Great location right in Downtown Long Beach just North of the East Village Arts District.
  • Blocks away from St. Mary's hospital, Museum of Latin American Art, rail lines, and $8 billion of new development
  • Only 8 blocks to the beach

OVERVIEW

High income totally updated 4 unit property in Downtown Long Beach with a 4 bed, 2.5 bath front house full of character plus three 1 bed, 1 bath units in the rear. All units recently updated, newer roof, replaced stairs, landscaping and exterior refresh completed. Very well priced on income at 11.8X GRM on actuals and a 5.3% cap rate with upside to 11.3X GRM and a 5.6% cap rate on market rents. 2 garages in rear structure plus driveway parking for 3 cars by the front house. Potential for ADU conversion in rear garages Separately metered for gas and electric, allowing a low expense building.

FOR SALE DETAILS

PRICE

$1,095,000 USD

PRICE/SF

$319 USD /SF

# OF UNITS

4

PRICE/UNIT

$273,750

CAP RATE

5.7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1910

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,001 SF

ZONING

LBR4R

APN/PARCEL ID

7274-021-011

ASK ABOUT THIS PROPERTY

Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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