Description

1108 Termino Avenue Long Beach, CA 90804

Price: $3,500,000
Units: 10
Year Built: 1986
Size: 10,159 SF
Current Cap Rate: 4.8%
Market Cap Rate: 6.0%
Current GRM: 14.1
Market GRM: 12.0
Price per SF: $382 

1108 Termino Avenue is a highly sought-after 1980’s property in the popular Eastside submarket of Long Beach. The building features 10 two-bedroom, condo-style apartments which are extra large and bright. Upper units have vaulted ceilings and all units offer balconies.

The building is secured with locked entrances and security cameras. Additionally, with 15 parking spaces in the gated garage, there is potential to increase income by renting extra spaces.

The meticulously maintained property features a newer roof with a lifetime guarantee, as well as laundry machines that are owned by the seller and included. Tenants pay for their own gas and electric, keeping the building’s utility expenses low.

This investment asset offers an investor an attractive, well-kept property in a desirable, low-vacancy residential neighborhood with over 18% rental upside potential.