640 Stanley Avenue

640 Stanley Avenue, Long Beach, CA 90814

Sale Price

$6,700,000

Investment Overview

Units

16

Year Built

1973

Price Per SF

$451

Price Per Unit

$418,750

Current Cap Rate

4.02%

Market Cap Rate

4.85%

Current GRM

14.72

Market GRM

13.00

The Offering

640 Stanley Avenue is a 16-unit investment asset located in the Rose Park South Historic District, walking distance to popular 4th Street/Retro Row.

The property features all bright, spacious 2 BD/1.5 BA Townhouse units with balconies.  Ample parking is available with a total of 20 spaces, including eight double-car garages, which creates the potential to be converted to ADUs. Ten of the units are completely renovated with designer finishes and fixtures, including wood laminate flooring, quartz countertops, Euro-style cabinetry and tile kitchen floors, stainless steel appliances, and modern ceiling fans and lighting.

Located in the highly desirable Rose Park South Historic District, 640 Stanley has a Walk Score of 94. Residents enjoy a quiet neighborhood just blocks to the amenities along 4th Street/Retro Row, a shopping and dining destination.

640 Stanley Avenue provides a new buyer with a rare opportunity to own 16 spacious townhouse units in a highly popular rental location that provides 13.7% rental upside potential with the existing units.

Investment Highlights

  • Spacious Condo/Townhouse-Style Units with Balconies
  • 10 of the 16 Units Completely Renovated
  • 20 Total Parking Spaces
  • 8 Double-Garages Provide the Potential for ADU Conversions
  • Walking Distance to 4th Street / Retro Row
  • 13.7% Rental Upside Potential
  • 65% LTV at 3.25% Interest-Only Loan