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Listed by Anthony Walker • Buckingham Investments, Inc
$1,995,000
Est. payment /mo
8,546 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRSB25096484
Year Built 1921
Lot Size 8,546 Sqft
Source California Regional MLS
Property Description
6.2% cap rate on actuals only 3 blocks to the beach! 10.6X GRM on actuals with a 9% upside to 9.7X GRM on market rents and 6.9% market cap rate. Totally remodeled 8 unit (7+1 ADU) property consisting of two buildings with 4 units each and parking for 5 cars. Corner building consists of four large 900 square foot units with 2 bedroom floor plans upstairs and large 1 bedroom floor plans on ground level. Second building has a brand new 2025 construction 2 bed/1 bath ADU, two studios, and a large 1 bed/1 bath unit. All unit interiors remodeled since 2022, new electrical in 285 building, full paint and exterior refresh just completed. Great curb appeal on a large 8,546 square foot corner lot. Ideal location in the heart of Alamitos Beach only 3 blocks to the sand. 2 blocks from Downtown Long Beach's East Village Arts District with numerous restaurants, retail, and entertainment options. Over $8 Billion in new development in the immediate vicinity. 63% of households within 5 miles are renters with an average households income of $98,000+ (per CoStar research). Directly across the street from the Historic Ebell Club of Long Beach.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Rooms
Kitchen Oven Range - Gas, Oven - Gas
Interior
Heating Wall Furnace
Cooling Heat Pump
Flooring Laminate
Laundry Other
Exterior
Garage Spaces 5.0
Pool None
Building
Water District - Public
Others
Tax ID 7275003027
Special Listing Condition Not Applicable
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Sharad Gupta
Broker | License ID: 02213637
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