2241 Earl Avenue

2241 Earl Avenue, Long Beach, CA 90806

Sale Price

$1,350,000

Investment Overview

Units

5

Year Built

1947

Price Per SF

$495

Price Per Unit

$270,000

Current Cap Rate

4.69%

Market Cap Rate

5.61%

Current GRM

13.68

Market GRM

12.04

The Offering

2241 Earl Avenue is a 5-unit investment asset in the up-and-coming South East Wrigley neighborhood, just north of Downtown Long Beach.

The property features one 2 BD/ 1 BA unit and four 1 BD/1 BA units, all with interior renovations and upgrades, including new kitchens and bathrooms. New exterior paint provides a fresh look. Parking and laundry facilities provide income and there is potential for increased parking.

The buiilding is located just 10 minutes (under three miles) from Downtown Long Beach and less than one mile to the 710 freeway.

2241 Earl Avenue provides an investor with a fully-rented, stabilized asset with strong in-place cash flow. Additional revenue and upside can be achieved by adding parking.

Investment Highlights

  • Fully- Rented, Stabilized Asset; Strong In-Place Cash Flow
  • Attractive Mix of One and Two Bedroom Units
  • Interior Renovations Include New Kitchens and Bathrooms
  • Potential for Increased Parking
  • High-Demand Wrigley Neighborhood