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%.