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1085 Molino Avenue
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Sale Price
$2,250,000
Investment Overview
Units
8
Year Built
1988
Price Per Unit
$281,250
Current Cap Rate
4.10%
Market Cap Rate
5.69%
Current GRM
14.76
Market GRM
11.72
The Offering
1085 Molino Avenue is an 8-unit multifamily investment located in desirable Eastside Long Beach with a 91 walk score. Built in 1988, the property features all spacious two-bed / two-bath units, secure parking with 12 spaces, onsite laundry and a sizable garage storage unit.
This asset offers a new buyer rental upside potential of +/-22% along with the ability to earn additional income from renting out the extra parking spaces and garage storage unit.
Investment Highlights
- +/-22% Rental Upside Potential
- Highly Sought-After 1980’s Construction
- 100% Spacious 2BD / 2 BA Units
- Extra Income Potential from Storage Unit in Garage (+/-100SF)
- Extra Income Potential from Renting Extra Parking Spaces in Rear of Building