520 E Adams St - Apartments FOR SALE


Long Beach, CA 90805- Bixby Knolls
$4,800,000 USD
949-295-8560
520 E Adams St, Long Beach, CA for Sale
$4,800,000 USD
Apartments - FOR SALE
1/5
null | 6.46% Cap Rate

520 E Adams St
Long Beach, CA 90805
Bixby Knolls


HIGHLIGHTS

  • Excellent Unit Mix of 1 & 2-Bedroom Units
  • Priced at $184,615/Unit & $273/SF
  • 10.42 GRM & 6.5% Cap Rate on Current Income
  • 7.94 GRM & 9.4% Cap Rate on Market Rents
  • Easy Upside in Rental Income for a New Owner
  • Ideal Rental Location on Residential Street in North Long Beach

OVERVIEW

520 E. Adams Street offers an investor the opportunity to acquire 26 units in the strong rental market of North Long Beach. The property sits on a residential street across the street from Jordan High School and Houghton Park, and has easy access to the 91 & 710 Freeways. Residents enjoy a community pool, covered parking, gated access and an on-site laundry room. Also available are the neighboring properties at 540 Adams, 555 Adams, 560 Adams and 541 E. 64th Street. Available for sale together or separately in any combination. The city of Long Beach has become one of the Southland’s strongest rental markets, in part due to its central location and rapidly improving neighborhoods. It’s diverse economy includes shipping, trade, manufacturing, tourism, healthcare and education. It is home to California State University Long Beach and one of the busiest ports in the world with The Port of Long Beach.

FOR SALE DETAILS

PRICE

$4,800,000 USD

PRICE/SF

$274 USD /SF

# OF UNITS

26

PRICE/UNIT

$184,615

CAP RATE

6.46%

% 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

1959

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.61 AC

LAND SF

26,464 SF

ZONING

R4

APN/PARCEL ID

7115-028-010

ASK ABOUT THIS PROPERTY

Doug RodermundMorgan-Skenderian Investment Real Estate GroupMore Info
949-295-8560

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Doug RodermundMorgan-Skenderian Investment Real Estate GroupMore Info
949-295-8560

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