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475-495 Market Street

495 E. Market Street,Long Beach, CA 90805

8

Unit

$2,500,000

Price

Property Details

Price Per Unit

$312,500

Price per SF

$252

Current Cap Rate

4.01%

Market Cap Rate

5.71%

Current GRM

12.76

Market GRM

10.33

475-495 Market Street

495 E. Market Street,Long Beach, CA 90805

$2,500,000

Price

Property Details

Price per SF

$252

Price Per Unit

$312,500

Price per SF

$252

Current Cap Rate

4.01%

Market Cap Rate

5.71%

Unit

8

Current GRM

12.76

Market GRM

10.33

Description

475-495 E. Market Street is an 8-unit apartment property with a church situated on an oversized lot of 25,524 square feet in Long Beach, California.

This rare property consists of (4) 1 BD/1 BA units, (3) 2 BD/1 BA units, and (1) 3 BD/2 BA. The 4,000-square foot existing church can be used as-is, or could potentially be used to add additional units*.

Ample parking is available on the site, with 21 surface spaces and two (2)garages, which could also be converted to a 1 BD/1 BA ADU. Laundry facilities are located onsite for additional income.

The property is well-located with convenient access to the 710 605, and 405 freeways.

 

Highlights

  • Oversized Lot with 25,540 Square Feet
  • Potential to Add Units Within the Existing ±4,000 SF Church*
  • Ample Parking with 21 Surface Spaces and Two Garages
  • Attractive Mix of One, Two, and Three-Bedroom Units
  • Easy Access to the 710, 605, and 405 Freeways

*Buyer to verify with Long Beach Building and Safety/Planning Department

Map

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