187 Roycroft Ave - Apartments FOR SALE


Long Beach, CA 90803
$1,485,000 USD
714-713-9086
187 Roycroft Ave, Long Beach, CA for Sale
$1,485,000 USD
Apartments - FOR SALE
1/14
null | 2.49% Cap Rate

187 Roycroft Ave
Long Beach, CA 90803


HIGHLIGHTS

  • Highly Desirable Single-Story Construction | Gated Property with a Spacious Common Back Patio
  • Roof Mounted Solar Panels Help to Offset Ownership Electricity Costs | Each Unit Features Dual-Pane Windows & a Mini-Split A/C Unit
  • Unparalleled Belmont Shore Location | Steps Away from the Plethora of Retail, Dining, & Entertainment Options at Belmont Shore’s 2nd Street
  • Within Walking Distance to Rosie’s Dog Beach, Long Beach City Beach, & Belmont Veterans Memorial Pier
  • Within 1.75 Miles of 2nd & PCH, a Recently Developed Open-Air Mall Anchored by Whole Foods Market
  • 2.00 Miles from California State University, Long Beach, a Public University with an Annual Enrollment of Over 39,500 Students

OVERVIEW

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 187 Roycroft Avenue, a 4-unit multifamily investment property located in the highly sought-after Belmont Shore neighborhood of Long Beach, CA. 187 Roycroft Avenue features highly desirable single-story construction with amenities including gated access, security doors, dual-pane windows, and a common area rear patio. Current ownership has invested significant capital into improvements at the property including mini-split air conditioning units and upgraded electrical panels. Additionally, in 2024 solar panels were installed at the property, helping ownership to offset operational costs. Residents of 187 Roycroft Avenue enjoy the property’s prime Belmont Shore location, just steps away from the abundance of retail, dining, and entertainment options on 2nd Street. Residents enjoy convenient access to over 4 miles of uninterrupted coastline that offer an endless amount of recreational and leisurely activities at Rosie’s Dog Beach, Long Beach City Beach, and Belmont Veterans Memorial Pier among others. Additionally, 187 Roycroft Avenue is also just under 2 miles from 2nd & PCH, a recently developed open-air mall, providing residents with convenient access to a plethora of popular retailers and restaurants. Furthermore, the property’s close proximity to Pacific Coast Highway provides residents with easy access throughout Long Beach and neighboring coastal cities. The property’s ideal Belmont Shore location surrounded by an abundance of recreational, entertainment, and retail amenities are 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 187 Roycroft Avenue. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$1,485,000 USD

PRICE/SF

$952 USD /SF

# OF UNITS

4

PRICE/UNIT

$371,250

CAP RATE

2.49%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

LBR2S

APN/PARCEL ID

7256-023-019

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.