26 Belmont Avenue

26 Belmont Avenue, Long Beach, CA 90802

Sale Price

$2,450,000

Investment Overview

Units

8

Year Built

1953

Price Per Unit

$306,250

Current Cap Rate

4.01%

Market Cap Rate

5.05%

Current GRM

15.33

Market GRM

13.08

The Offering

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.

Investment 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

Virtual Tour