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1085 Molino Avenue

,,

8

Unit

$2,250,000

Price

Property Details

Price Per Unit

$281,250

Price per SF

$

Current Cap Rate

4.10%

Market Cap Rate

5.69%

Current GRM

14.76

Market GRM

11.72

1085 Molino Avenue

,,

$2,250,000

Price

Property Details

Price per SF

$

Price Per Unit

$281,250

Price per SF

$

Current Cap Rate

4.10%

Market Cap Rate

5.69%

Unit

8

Current GRM

14.76

Market GRM

11.72

Description

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.

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

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