924 Termino Ave - Apartments FOR SALE


Long Beach, CA 90804- Eastside Long Beach
$2,195,000 USD
949-500-5099
924 Termino Ave, Long Beach, CA for Sale
$2,195,000 USD
Apartments - FOR SALE
1/16
null | 6.52% Cap Rate

924 Termino Ave
Long Beach, CA 90804
Eastside Long Beach


HIGHLIGHTS

  • 100% Single-Story Units
  • 6.5% Cap Rate on Current Rents with Upside
  • Permitted Storage Room with Bathroom (Possible ADU Conversion)
  • 2 of 8 Units Fully Renovated
  • Copper Plumbing, Updated Electrical Systems and New Electrical Panels
  • Located 2 Miles West of Cal State Long Beach

OVERVIEW

Morgan Skenderian, Inc. is pleased to present this well-maintained 8-unit multifamily property in Long Beach. Consisiting exclusively of single-story units, the property features a desirable unit mix, with two of the eight units recently renovated to include updated flooring and fresh interior paint. Operational efficiency and long-term durability are supported by key system upgrades, including copper plumbing, updated electrical systems, and new electrical panels. The property also benefits from an on-site laundry facility, two single-car garages and two double-car garages. A unique highlight of the property is a permitted storage area currently generating supplemental income from existing tenants. This space includes a bathroom and is equipped with plumbing, gas, and electrical, presenting an excellent opportunity for potential ADU conversion (buyer to verify), further increasing revenue potential. Overall, this property combines recent upgrades, strong in-place income, and multiple avenues for future growth—making it an attractive addition to any multifamily portfolio.

FOR SALE DETAILS

PRICE

$2,195,000 USD

PRICE/SF

$646 USD /SF

# OF UNITS

8

PRICE/UNIT

$274,375

CAP RATE

6.52%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,661 SF

ZONING

R3S

APN/PARCEL ID

7254-018-002

ASK ABOUT THIS PROPERTY

Rick ApplebaumMorgan-Skenderian Investment Real Estate GroupMore Info
949-500-5099

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Rick ApplebaumMorgan-Skenderian Investment Real Estate GroupMore Info
949-500-5099

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