1335 Stanley Ave - Apartments FOR SALE


Long Beach, CA 90804
$2,049,000 USD
310-948-2631
1335 Stanley Ave, Long Beach, CA for Sale
$2,049,000 USD
Apartments - FOR SALE
1/14
null | 6.3% Cap Rate

1335 Stanley Ave
Long Beach, CA 90804


HIGHLIGHTS

  • PRICED TO SELL - 10.6 GRM on in place rents. 6.3% CAP with upside to 6.8% CAP.
  • New exterior paint, windows, garage doors and landscaping.
  • Professionally managed building - very well maintained.
  • Potential to build 2 ADU's onsite - Buyer to verify.
  • EMAIL LISTING AGENT FOR MORE INFO AND A SETUP.

OVERVIEW

PRICED TO SELL. 8 units located on the East Side of Long Beach - subject to AB 1482 Rent Control (5% + CPI increases). All units are in very good condition. 10.6 GRM AND 6.3% CAP on in place rents, with upside to a 6.8% CAP. And only $301/SF. Property has new windows, new exterior paint and landscaping, new garage doors and is professionally managed. Electrical subpanels were updated in 2024. The main panel is 200 AMPS (Buyer to verify). Most units have W/D hookups. Units have individual waters heaters. There are 4 garages at the front of the property that rent for $125/month each. They could be converted into 2 ADU's - Buyer to verify. There is also parking for 2 cars in the rear. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND SETUP.

FOR SALE DETAILS

PRICE

$2,049,000 USD

PRICE/SF

$301 USD /SF

# OF UNITS

8

PRICE/UNIT

$256,125

CAP RATE

6.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,443 SF

ZONING

R2, Long Beach

APN/PARCEL ID

7260-023-010

ASK ABOUT THIS PROPERTY

Jon SwireThe AgencyMore Info
310-948-2631

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Jon SwireThe AgencyMore Info
310-948-2631

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