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1232 E. 2nd Street

1232 E. 2nd Street,Long Beach, CA 90802

14

Unit

$6,000,000

Price

Property Details

Price Per Unit

$428,570

Price per SF

$744

Current Cap Rate

3.95%

Market Cap Rate

4.58%

Current GRM

16.63

Market GRM

14.96

1232 E. 2nd Street

1232 E. 2nd Street,Long Beach, CA 90802

$6,000,000

Price

Property Details

Price per SF

$744

Price Per Unit

$428,570

Price per SF

$744

Current Cap Rate

3.95%

Market Cap Rate

4.58%

Unit

14

Current GRM

16.63

Market GRM

14.96

Description

1232 E. 2nd Street is a 14-unit turn-key investment asset in prime Alamitos Beach. The property consists of (1) 2BD/1BA unit and (13) 1BD/1BA units. Four units feature private, enclosed courtyards.

All units have been renovated with new countertops, laminate wood and porcelain tile flooring, stainless steel appliances, bathtubs, custom tile surrounds, vanities, ceiling fans, lighting, and window coverings.

New building systems as well as new vinyl low-energy windows have been installed throughout. The remodeled laundry room features copper pipes and new machines. New landscaping includes installation of concrete hardscape and modern fencing, drought tolerant plants with drip irrigation and lighting.

Highlights

  • Absolute Turn-key Asset
  • New Low-Energy Windows & Building Systems
  • All Units Meticulously Renovated – 4 with Private, Enclosed Courtyards
  • Complete Exterior & Landscape Renovations
  • Additional Income from Onsite Laundry
  • Individually Metered with In-Place RUBS Program
  • Prime Alamitos Beach Location / 94 Walk Score

Map