1044 E. Appleton Street

1044 E. Appleton Street,Long Beach, CA 90802

1923

Year Build

$4,200,000

Price

Property Details

Current Cap Rate

3.67%

Market Cap

5.54%

Current GRM

16.46

Market GRM

12.54

25907 Oak Street

25907 Oak Street | Lomita, CA 90717

$10,750,000

Price per Unit

Property Details

Tyler Leeson

$10,750,000

Building Size

23,312 SF

Number Of Units

23

Cap Rate

3.69%

Total Lot Size

23,312 SF

Year Built

23

Number Of Units

23

Year Built

23

Description

1044 Appleton Street is an 15-unit investment asset in prime Alamitos Beach. The property is a classic 1920’s landmark building with six 1 BD/1 BA units and nine Studio units.

Six units have been renovated with new flooring, countertops, hardware, window coverings, ceiling fans and LED light fixtures. Exterior and common area renovations include a remodeled laundry room with new machines and new flooring in hallways and staircases. New landscaping includes installation of drought tolerant plants with drip irrigation and lighting.

The on-site laundry facilities and an art studio space provide additional building income.

Highlights

Classic 1920’s Landmark Building
6 Units Renovated – Strong Upside in Renovating Remaining 9 Units
Exterior, Common Area & Landscape Renovations
Onsite Laundry Facilities & Art Studio Space Provide Additional Income
Individually Metered with In-Place RUBS Program
Prime Alamitos Beach Location / 94 Walk Score