Description

1201 Ohio Avenue is a 7-unit value-add investment opportunity located in Long Beach, California. Comprised of (7) 2BD/1BA units averaging 730 square feet, there is the opportunity for the asset to be delivered with two units vacant in rent-ready condition.

A new operator can increase income by renting out the four (4) garages or converting them to ADUs. There is also a large unused laundry and storage room on site that can provide additional income.

Located in the dynamic Zaferia neighborhood in Long Beach, 1201 Ohio tenants have access to a mix of vibrant restaurants, art galleries and coffee shops.

1201 Ohio has approximately 29% upside in income potential and offers a new operator the chance to stabilize the building at under 10x Gross and a 7.6% cap rate with the construction of ADUs.