1020 E. Broadway

1020 E. Broadway , Long Beach, CA 90802

Sale Price

$2,100,000

Investment Overview

Units

4

Year Built

1963

Price Per SF

$530

Price Per Unit

$525,000

Current Cap Rate

3.47%

Market Cap Rate

4.94%

Current GRM

17.87

Market GRM

13.97

The Offering

1020 E. Broadway is a 4-unit investment asset in prime Alamitos Beach. The property is comprised of one 3 BD/2 BA unit and three 2 BD/1 BA units.

Three units have been meticulously renovated with modern fixtures and finishes, including new countertops, cabinets, laminate wood flooring, stainless steel appliances, bathtubs and vanities, ceiling fans, lighting and window coverings.

New exterior renovations include concrete hardscape, modern fencing, paint and hardware, as well as drought-tolerant landscaping, drip irrigation and lighting.

Three garages and onsite laundry provide additional income.

Investment Highlights

  • 3 Units Meticulously Remodeled with Modern Fixtures & Finishes
  • Complete Exterior & Landscape Renovations
  • 3 Garages & Onsite Laundry Providing Income
  • Individually Metered with In-Place RUBS Program
  • Prime Alamitos Beach Location / 94 Walk Score