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336 E. 8th Street

336 E. 8th Street,Long Beach, CA 90813

13

Unit

$3,895,000

Price

Property Details

Price Per Unit

$299,614

Price per SF

$325

Current Cap Rate

5.00%

Market Cap Rate

6.60%

Current GRM

12.91

Market GRM

10.55

336 E. 8th Street

336 E. 8th Street,Long Beach, CA 90813

$3,895,000

Price

Property Details

Price per SF

$325

Price Per Unit

$299,614

Price per SF

$325

Current Cap Rate

5.00%

Market Cap Rate

6.60%

Unit

13

Current GRM

12.91

Market GRM

10.55

Description

336 E. 8th Street is a 13-unit apartment asset located in Downtown Long Beach, California. The property is offered with an assumable loan at 3.49%.

Built in 1983, the building has an strong mix of sizable one, two and three bedroom units. All units offer in-unit washer/dryers, private balconies and individual water heaters. Six units have been fully renovated with laminate flooring and updated kitchens and baths. Top floor units feature cathedral-style ceilings in the living room.

There is ample parking with 16 garages currently generating revenue. Fourteen of the garages are double-deep, allowing for premium parking rates and additional income potential. Furthermore, a large onsite storage/workspace currently used by ownership could also be rented for additional income. Garages and storage/workspace areas provide potential for ADU conversion.

Featuring a Walk Score of 95, 336 E. 8th Street is located in desirable Downtown Long Beach with easy access to shopping, dining and entertainment amenities for daily living.

Highlights

  • Assumable Financing Available at 3.49%
  • Built in 1983 / Large Units / 6 Units Fully Remodeled
  • All Units Feature In-Unit Washer/Dryers, Balconies, and Individual Water Heaters
  • 16 Garages and a Large Storage/Workspace Offer Additional Income Opportunities and ADU Potential
  • Desirable Downtown Long Beach Location / 95 Walk Score

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