1315 W. 19th Street

1315 W. 19th Street,Long Beach, CA 90810

1963

Year Build

$5,300,000

Price

Property Details

Current Cap Rate

Market Cap

Current GRM

Market GRM

25907 Oak Street

25907 Oak Street | Lomita, CA 90717

$10,750,000

Price per Unit

Property Details

Tyler Leeson

$10,750,000

Building Size

23,312 SF

Number Of Units

23

Cap Rate

3.69%

Total Lot Size

23,312 SF

Year Built

23

Number Of Units

23

Year Built

23

Description

1315 W. 19th Street is a 22-unit multifamily asset in Long Beach, California. The property is situated on an oversized corner lot, and offers an attractive mix of two 1 BD / 1 BA, sixteen 2 BD / 1 BA and four 3 BD / 1 BA units as well as fourteen garages and on-site laundry facilities.

Half of the unit interior have been fully renovated with new laminate hardwood flooring, custom shaker-style cabinets, quartz countertops,stainless steel appliances, new bathroom tile and modern lighting, ceiling fans and fixtures throughout. Exterior upgrades include light landscaping and new front and rear building security gates.

1315 W. 19th Street presents a rare opportunity to own in an area of Long Beach where few apartment buildings come on the market. The asset is 95% occupied and offered at a 5.27% cap rate and           12.25 GRM on actual rents, with potential rental upside of +/-14%.

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