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26 Belmont Avenue

26 Belmont Avenue,Long Beach, CA 90802

1953

Year Built

$2,450,000

Price

Property Details

Price Per Unit

$306250

Price per SF

$

Current Cap Rate

4.01%

Market Cap Rate

5.05%

Current GRM

15.33

Market GRM

13.08

26 Belmont Avenue

26 Belmont Avenue,Long Beach, CA 90802

$306250

Price per Unit

Property Details

Price

$2,450,000

Price Per Unit

$306250

Price per SF

$

Current Cap Rate

4.01%

Market Cap Rate

5.05%

Year Built

1953

Current GRM

15.33

Market GRM

13.08

Description

26 Belmont Avenue is an 8-unit investment asset in Belmont Shore, one of the most desirable neighborhoods in Southern California, providing the best in beachside living.

Belmont Shore is ranked the #1 Best Neighborhood for Young Professionals by Niche.com, and this property is located just half a block from the beach, bike path, restaurants and bars.

The building is comprised of (8) 1 BD / 1 BA units, onsite laundry facilities, and four parking spaces in an area where parking is a premium. A new master water heater was installed in 2020, and all units feature new permitted vinyl, dual-glazed, low-energy windows.

Offered at 5.05% cap rate and 13.08 GRM with rents at market, this property offers a buyer an excellent value add opportunity in an “A+” location.

Highlights

  • High Demand Belmont Shore Rental Neighborhood
  • Half a Block to the Beach, Bike Path, Restaurants and Bars
  • New Master Water Heater in 2020
  • New Vinyl, Dual Glazed, Low Energy Windows in All Units (Permitted)
  • 4 Parking Spaces (A Premium in the Area)
  • Value Add Opportunity in “A” Location
  • Potential to Close with Vacant Units

Map

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