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22 65th Place

22 65th Place,Long Beach, CA 90803

2

Unit

$1,875,000

Price

Property Details

Price Per Unit

$937,500

Price per SF

$889

Current Cap Rate

3.08%

Market Cap Rate

4.11%

Current GRM

21.11

Market GRM

17.24

22 65th Place

22 65th Place,Long Beach, CA 90803

$1,875,000

Price

Property Details

Price per SF

$889

Price Per Unit

$937,500

Price per SF

$889

Current Cap Rate

3.08%

Market Cap Rate

4.11%

Unit

2

Current GRM

21.11

Market GRM

17.24

Description

22 65th Place is a duplex in a coveted A+ location, directly on the Alamitos Peninsula, known as “The Peninsula” in Long Beach. The property is located just steps from the boardwalk, sand and Pacific Ocean, and a stone’s throw to Alamitos Bay, The Marina, Naples Island and Belmont Shore.

The 1,100-square-foot front unit offers three (3) bedrooms and two (2) bathrooms with 1920’s detail, including high open wood beam ceilings, original hardwood floors, and a Dutch-tile fireplace.

The 1,000-square-foot, two-story rear unit offers three (3) bedrooms and one (1) bathroom. The second floor is a large, light-filled bedroom with open wood ceilings and access to a sizable roof deck to soak up the sun.
Onsite laundry facilities, storage, garage and parking space in front of the garage offer the potential for additional income.

22 65th Place presents a new buyer with the opportunity to own a well-maintained asset in an A+ location with +/-18% rental upside.

Highlights

  • Coveted Alamitos Peninsula Location
  • Two (2) Sizable Units with Three (3) Bedrooms in Each
  • Front Unit Features High Open Wood Beam Ceiling, Original Hardwood Floors
  • Rear Unit Features 2nd Story Light-Filled Bedroom with Access to Large Roof Deck
  • Onsite Laundry, Storage and Parking Provide Potential Income
  • ±18% Rental Upside Potential

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