737 E 5th St - Apartments FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$4,400,000 USD
310-408-4364
737 E 5th St, Long Beach, CA for Sale
$4,400,000 USD
Apartments - FOR SALE
1/8
null | 6.21% Cap Rate

737 E 5th St
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • Mostly 2 Bedroom Units
  • First Time On Market in 30 Years!
  • Well Maintained - New Roof, New Windows, Copper Plumbing, Newer Electrical
  • Great Long Beach Location
  • Garages
  • Upside in Rents

OVERVIEW

PRICE REDUCTION AND RENT INCREASE - NOW OVER A 6.2% CAP RATE AT LIST PRICE! Excellent opportunity to acquire an attractive, "Turnkey" apartment building in a great Long Beach location! The building was built in 1964 and features 4 One Bedroom units, 4 Two Bedroom One Bath units, and 6 Two Bedroom Two Bath units. The units are separately metered for utilities. Current ownership has taken great care of these buildings, and over the years has replumbed the building, upgraded the electrical, and installed new windows. The roof was replaced in the past 2 years. Parking consists of on and off street parking with 7 garages that are currently rented for $205/Month. Currently the building is 100% occupied and the rents are below market. Historically the building has enjoyed excellent occupancy.

FOR SALE DETAILS

PRICE

$4,400,000 USD

PRICE/SF

$354 USD /SF

# OF UNITS

14

PRICE/UNIT

$314,286

CAP RATE

6.21%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,492 SF

ZONING

R4

APN/PARCEL ID

7281-003-019

ASK ABOUT THIS PROPERTY

Joseph LinkogleMarcus & MillichapMore Info
310-408-4364

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Joseph LinkogleMarcus & MillichapMore Info
310-408-4364

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