Description

5729 California Avenue is a seven-unit property located in North Long Beach. The property is comprised of six (6) studio units and a detached, remodeled 2BD/1BA house. The house was completely renovated as of 2022.
The property is priced at 11.96 x gross and 5.18 cap rate on current rents. A new owner has the opportunity to increase rents and achieve 10.60 x gross and 6.17% cap rate.
Additional income generating opportunities for a new owner include renting out storage spaces and surface parking spots on the property.
Each building has its own electric meter, and a new owner could implement RUBS to further bring down operating expenditures.