1019 Lewis Avenue
- California
- Long Beach
Property Information
- Address: 1019 Lewis Avenue
- City: Long Beach
- State: California
- Zip Code: 90813
- Units: 16
- Price: $4,100,000
Property Financials
- Price per Unit: $256,250
- Price per SF: $393
- Current Cap Rate: 6.54%
- Market Cap Rate: 7.22%
- Current GRM: 9.52
- Market GRM: 8.90
Property Description
Highlights
- $400K in Capital Improvements Already Completed
- 15 of 16 Units Completely Renovated; Majority Two-Bedroom Units
- Two Newly-Built ADUs – Potential to Build Additional
- Stable Income Profile – Majority of Tenants Participate in HACLA or HACLB
- Convenient North Downtown Location – 91 Walk Score
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