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222 Grand Avenue

222 Grand Avenue,Long Beach, CA 90803

6

Unit

$2,450,000

Price

Property Details

Price Per Unit

$408,333

Price per SF

$410

Current Cap Rate

4.42%

Market Cap Rate

5.32%

Current GRM

14.38

Market GRM

12.60

222 Grand Avenue

222 Grand Avenue,Long Beach, CA 90803

$2,450,000

Price

Property Details

Price per SF

$410

Price Per Unit

$408,333

Price per SF

$410

Current Cap Rate

4.42%

Market Cap Rate

5.32%

Unit

6

Current GRM

14.38

Market GRM

12.60

Description

222 Grand Avenue is a 6-unit apartment asset with vintage character located on a quiet street in Belmont Heights with ±20% potential upside in rents.

The Spanish Revival building consists of all 2BD / 1BA units with hardwood floors, elegant archways, and original artistic bathroom tiling.
The property also offers a small courtyard, onsite laundry, and ample parking with (4) garages and (2) surface spaces.

With an Walk Score of 88, the property is conveniently accessible to amenities for daily living in Belmont Heights.

Highlights

  • ±20% Potential Rental Upside
  • All 2BD/1BA Units
  • Attractive Spanish Revival with Hardwood Floors/Detailing
  • Onsite Laundry and Ample Parking (4 Garages/2 Tandem Spaces)
  • Desirable Belmont Heights Location – 88 Walk Score

Map