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