111 Bay Shore Ave - Apartments FOR SALE


Long Beach, CA 90803- Belmont Shore
$2,695,000 USD
562-257-1200
111 Bay Shore Ave, Long Beach, CA for Sale
$2,695,000 USD
Apartments - FOR SALE
1/11
null | 3.91% Cap Rate

111 Bay Shore Ave
Long Beach, CA 90803
Belmont Shore


HIGHLIGHTS

  • Generational Legacy Asset with Endless Possibilities: Airbnb, VRBO, Owner User, or Second Home
  • Mid Century Beach Front Property with Expansive Bay Views
  • Lot and a Half (45 Feet of Frontage), Providing Flexible Space and Development Opportunities( Call Agent for more Info)
  • Two Spacious Two Bedroom / One Bathroom Units: Average Unit Size Over 1,000 Square Feet
  • Amenities That All Tenants Value: Synergized Outdoor Space, Washers and Dryers in Each Unit, and Private Parking
  • 90 Walk Score – “Walker’s Paradise”

OVERVIEW

Marcus & Millichap is pleased to present a Duplex multifamily property. Built in 1947, the subject property consists of 2,276 rentable square feet spread throughout a 3,649 square foot lot and a half. The building consists of two 2-bedroom / 1-bathroom units. It contains two garages and two spaces providing ample on-site parking for this location. Tenants enjoy living in the Belmont shore Neighborhood East of Downtown Long Beach, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.

FOR SALE DETAILS

PRICE

$2,695,000 USD

PRICE/SF

$1,184 USD /SF

# OF UNITS

2

PRICE/UNIT

$1,347,500

CAP RATE

3.91%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,659 SF

ZONING

LBR2S

APN/PARCEL ID

7245-004-021

ASK ABOUT THIS PROPERTY

Kevin KingKing Group of Marcus & MillichapMore Info
562-257-1200

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Kevin KingKing Group of Marcus & MillichapMore Info
562-257-1200

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