1444 E 16th St - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$1,975,000 USD
714-383-0180
1444 E 16th St, Long Beach, CA for Sale
$1,975,000 USD
Apartments - FOR SALE
1/32
null | 4.99% Cap Rate

1444 E 16th St
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • lots of parking

OVERVIEW

Awesome 7-Unit Rental Property with Major Upside Potential! Don’t miss this unique investment opportunity featuring 7 rental units spread across 5 individual buildings in a well-maintained compound. With strong tenant stability and significant room for rent increases, this is the perfect value-add property for savvy investors. Each unit has its own individual water heater and separately metered gas and electricity, making this a low-maintenance investment with minimal owner expenses. Very quiet and stable tenants. Units are unfurnished; tenants provide their own refrigerators and stoves. Current rents are below market, providing a great opportunity to increase cash flow over time with strategic updates or new leases. This is a rare chance to acquire a solid, income-generating property with room to grow in a desirable rental market. Don’t miss out! Unit Breakdown: 4 stand-alone 1 bed / 1 bath cottages 1 stand-alone 2 bed / 1 bath 1 building with two units – EACH 2 bed / 1 bath Property Highlights: Each unit has its own individual water heater Copper plumbing throughout 3 units fully remodeled approximately 4 years ago Roofing is approx. 10 years old with 15 years remaining on a 25-year roof Tenants pay their own gas and electricity Low-maintenance investment with upside on current rents Off-street parking for all units—spaces available inside the compound and at the alley

FOR SALE DETAILS

PRICE

$1,975,000 USD

PRICE/SF

$551 USD /SF

# OF UNITS

28

PRICE/UNIT

$70,536

CAP RATE

4.99%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,425 SF

ZONING

LBR2N

APN/PARCEL ID

7268-034-008

ASK ABOUT THIS PROPERTY

Nancy NguyenWynn Real Estate, Inc.More Info
714-383-0180

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Nancy NguyenWynn Real Estate, Inc.More Info
714-383-0180

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