Investment Overview

Marcus & Millichap is pleased to present a 10-unit apartment building located in Long Beach, California. Built in 1948, the subject property consists of 7,726 rentable square feet spread throughout a 9,006 square foot lot. There is one Studio unit, four 1-bedroom / 1-bathroom units and four 2-bedroom / 1-bathroom units. Tenants enjoy living in the Bixby Knolls Neighborhood of Long Beach, a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life.