1058 Molino Ave - Apartments FOR SALE


Long Beach, CA 90804- Eastside Long Beach
$1,800,000 USD
714-713-9086
1058 Molino Ave, Long Beach, CA for Sale
$1,800,000 USD
Apartments - FOR SALE
1/11
null | 5.2% Cap Rate

1058 Molino Ave
Long Beach, CA 90804
Eastside Long Beach


HIGHLIGHTS

  • Offers a Mix of Studio, One, & Two-Bedroom Floor Plans, Helping to Attract a Diverse Renter Pool
  • Eight Units Feature Highly Desirable Single-Story Construction | One, Spacious Two-Bedroom Townhouse Unit
  • Controlled Access with a Call Box
  • On-Site Laundry Facility, Providing an Additional Revenue Stream
  • Walkable Access to Orizaba Park & Belmont Center
  • Central Long Beach Location Provides Convenient Access Throughout the City

OVERVIEW

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1058 Molino Avenue, a 9-unit multifamily investment property located in Long Beach, CA. Built in 1925, 1058 Molino Avenue offers a diverse mix of studio, one, and two-bedroom units. The property features unique architecture with a mix of eight, single-story units and one, two-story townhome unit. Furthermore, the gated property features an on-site laundry facility, a highly sought after amenity that provides ownership with an additional revenue stream. Situated in the Zaferia neighborhood of Long Beach, 1058 Molino Avenue’s central Long Beach location provides residents with convenient access throughout the city. Located just a short walk from the property is Orizaba Park, a 3.72-acre public park offering a soccer field, a skate park, a basketball court, and a spacious community center. The property’s location also provides walkable access to daily necessities at the Food 4 Less and Rite Aid anchored Belmont Center. Additionally, the property is just over half-a-mile from Retro Row and just over 1.25 miles from Traffic Circle, providing residents easy access to an abundance of retail, dining, & entertainment options. Furthermore, 1058 Molino Avenue is just over 2.20 miles from Veteran Affairs Medical Center and California State University, Long Beach, two of the city’s premier employers. The property’s ideal Long Beach location surrounded by an abundance of area amenities is a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 1058 Molino Avenue. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

9

PRICE/UNIT

$200,000

CAP RATE

5.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,490 SF

ZONING

R2, Long Beach

APN/PARCEL ID

7262-002-013

ASK ABOUT THIS PROPERTY

Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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