10355 Long Beach Blvd - Apartments FOR SALE


Lynwood, CA 90262
$4,430,000 USD
949-295-8560
10355 Long Beach Blvd, Lynwood, CA for Sale
$4,430,000 USD
Apartments - FOR SALE
1/12
null | 6.16% Cap Rate

10355 Long Beach Blvd
Lynwood, CA 90262


HIGHLIGHTS

  • Corner Location with High Visibility in an Excellent Rental Market
  • New Roof, Electrical Panels & Water Heaters
  • Priced to Sell at $147,667/Unit
  • Mix of Studio, 1, & 2-Bedroom Units
  • Massive Amount of Rental Upside
  • Lynwood Address in a South Gate Neighborhood

OVERVIEW

Presenting 10355 Long Beach Boulevard, a rare 30-unit multifamily opportunity with excellent visibility on a corner location of a high-traffic thoroughfare. The property has a Lynwood address but lies in a South Gate neighborhood. The property offers a mix of studio, 1 and 2-bedroom units that perfectly cater to the surrounding tenant base. The property is master-metered for all utilities. The roof, electrical panels and water heaters have all recently been replaced new. There is ample parking (31 spaces), laundry facilities and gated access. Lynwood is an excellent rental market for apartment owners, with the Lynwood/South Gate rental market having extremely low historical vacancy rates and no Lynwood rent control. Given the property’s ideal central location (30 minutes or less median travel time to work) and the city’s renter profile being over 50% of the population, 10355 Long Beach Boulevard benefits from rapidly rising rents as demand far outpaces supply. There is substantial upside to bring the rents up to market levels. Please contact listing broker for an Offering Memorandum.

FOR SALE DETAILS

PRICE

$4,430,000 USD

PRICE/SF

$148 USD /SF

# OF UNITS

30

PRICE/UNIT

$147,667

CAP RATE

6.16%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

31

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,947 SF

ZONING

-

APN/PARCEL ID

6207-024-024

ASK ABOUT THIS PROPERTY

Doug RodermundMorgan-Skenderian Investment Real Estate GroupMore Info
949-295-8560

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Doug RodermundMorgan-Skenderian Investment Real Estate GroupMore Info
949-295-8560

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.