541-551 E 64th St - Apartments FOR SALE


Long Beach, CA 90805- Bixby Knolls
$2,880,000 USD
949-295-8560
541-551 E 64th St, Long Beach, CA for Sale
$2,880,000 USD
Apartments - FOR SALE
1/6
null | 6.76% Cap Rate

541-551 E 64th St
Long Beach, CA 90805
Bixby Knolls


HIGHLIGHTS

  • Excellent North Long Beach Location Across From Jordan High School & Houghton Park
  • Priced at $180,000/Unit & $282/SF
  • 10.08 GRM & 6.8% Cap Rate on Current Income
  • 7.87 GRM & 9.5% Cap Rate on Market Rents
  • First Time on the Market in Decades

OVERVIEW

The 64th Street Apartments offer an investor the opportunity to acquire 16 units in the strong rental market of North Long Beach. The property sits across the street from Jordan High School and Houghton Park, and has easy access to the 91 & 710 Freeways. Residents enjoy covered parking, gated access and an on-site laundry room. Also available are the neighboring properties at 520 Adams, 540 Adams, 555 Adams and 560 Adams 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

$2,880,000 USD

PRICE/SF

$208 USD /SF

# OF UNITS

16

PRICE/UNIT

$180,000

CAP RATE

6.76%

% 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

1960

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

-

APN/PARCEL ID

7115-028-005

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.