1102 Central Ave - Apartments FOR SALE


Seal Beach, CA 90740
$5,850,000 USD
562-884-6875
1102 Central Ave, Seal Beach, CA for Sale
$5,850,000 USD
Apartments - FOR SALE
1/11
null | 2.63% Cap Rate

1102 Central Ave
Seal Beach, CA 90740


HIGHLIGHTS

  • True Pride of Ownership and Unparalleled Location in Old Towne Seal Beach
  • First Time on the Market in 30+ Years
  • Double Lot - Two Separate Parcels
  • Over 40% Rental Upside
  • Attractive Unit Mix - (3) 2 Bed | 1.5 Bath, (1) 2 Bed | 2 Bath, (4) 2 Bed | 1 Bath, (1) 1 Bed | Bath units
  • Ample Parking and potential to convert to ADU's - 9 single car garages

OVERVIEW

Rare Opportunity in Seal Beach's Coveted Old Towne - Pride of Ownership Asset! Pabst, Kinney & Associates is excited to present a rare opportunity to own a truly exceptional, generational pride of ownership property in Old Towne Seal Beach, one of Southern California's most desirable beach communities. Located just two blocks from the Ocean, Seal Beach Pier, and the charming boutiques and cafes of Seal Beach's iconic Main Street, this property offers an unbeatable location. Offered for the first time in over 30 years, the portfolio consists of two separate parcels at 1102-1106 Central Ave. and 144 11th Street, encompassing 8,923 rentable square feet on a 9,191 square foot lot. The property includes 9 well-maintained units: (3) 2-Bed | 1.5-Bath Units, (4) 2-Bed | 1-Bath Units, (1) 2-Bed | 2-Bath Unit, (1) 1-Bed | 1-Bath Unit Additionally, the property features 9 single-car garages, providing ample parking and potential for future ADU conversions. The 1102-1106 Central Ave. building consists of 3 units: two spacious 2-bed | 1.5-bath townhouse units (approx. 1,300 sq. ft. each) and a large 2-bed | 1.5-bath unit above the garages. The 144 11th Street building includes 6 units: (4) 2-bed | 1-bath units, (1) 2-bed | 2-bath unit, and (1) 1-bed | 1-bath unit. Both buildings have been meticulously maintained, with a complete re-roof in 2021, including new roof drains. With little deferred maintenance, this property offers over 40% upside potential in rental income. Don’t miss out on this rare opportunity to own a pride of ownership asset in one of Southern California’s most sought-after beach communities.

FOR SALE DETAILS

PRICE

$5,850,000 USD

PRICE/SF

$656 USD /SF

# OF UNITS

9

PRICE/UNIT

$650,000

CAP RATE

2.63%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,191 SF

ZONING

-

APN/PARCEL ID

199-072-25

ASK ABOUT THIS PROPERTY

Spencer PabstPabst, Kinney & Associates, Inc.More Info
562-884-6875

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Spencer PabstPabst, Kinney & Associates, Inc.More Info
562-884-6875

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