Skip to main content

Multifamily

3723 E 8th St

3723 E 8th St, Long Beach, CA 90804

Listing Price: $2,200,000

Cap Rate
4.23%
Number of Units
8
Price/Unit
$275,000
Price/Gross SF
$321.07
Gross SF
6,852

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 3723 East 8th Street, an 8-unit multifamily investment property located in Long Beach, CA. 3723 East 8th Street offers an attractive mix of one and two-bedroom floor plans as well as 4 garage parking spaces, providing additional income potential. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, 3723 East 8th Street represents an attractive value-add opportunity for a new owner. 3723 East 8th Street is situated in the desirable Eastside neighborhood of Long Beach where residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the Los Alamitos Traffic Circle, located within 1 mile of the property. 3723 East 8th Street is in close proximity to all levels of schooling including Willard Elementary, Jefferson Middle, and Woodrow Wilson High. Additionally, the property benefits from its location within 0.90 miles of Pacific Coast Highway and 1.50 miles from State Route 22, connecting residents to employment hubs throughout Los Angeles and Orange Counties. The neighborhoods surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 3723 East 8th Street.

Investment Highlights

  • Attractive Mix of One & Two-Bedroom Floor Plans
  • Spacious Units Averaging Over 850 Square Feet
  • Existing Average Rents About 30% Under Market
  • Potential to Convert Garages into ADUs
  • Separately Metered for Gas & Electric
  • Desirable Eastside Location
  • Centrally Located to Wilson High School, Retro Row, & Downtown Long Beach
  • Easy Access to Retailers Along Redondo Avenue

Exclusively Listed By

Financing By

Multifamily

3723 E 8th St

Listing Price: $2,200,000

Cap Rate
4.23%
Number of Units
8
Price/Unit
$275,000
Price/Gross SF
$321.07
Gross SF
6,852

Investment Highlights

  • Attractive Mix of One & Two-Bedroom Floor Plans
  • Spacious Units Averaging Over 850 Square Feet
  • Existing Average Rents About 30% Under Market
  • Potential to Convert Garages into ADUs
  • Separately Metered for Gas & Electric
  • Desirable Eastside Location
  • Centrally Located to Wilson High School, Retro Row, & Downtown Long Beach
  • Easy Access to Retailers Along Redondo Avenue

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 3723 East 8th Street, an 8-unit multifamily investment property located in Long Beach, CA. 3723 East 8th Street offers an attractive mix of one and two-bedroom floor plans as well as 4 garage parking spaces, providing additional income potential. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, 3723 East 8th Street represents an attractive value-add opportunity for a new owner. 3723 East 8th Street is situated in the desirable Eastside neighborhood of Long Beach where residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the Los Alamitos Traffic Circle, located within 1 mile of the property. 3723 East 8th Street is in close proximity to all levels of schooling including Willard Elementary, Jefferson Middle, and Woodrow Wilson High. Additionally, the property benefits from its location within 0.90 miles of Pacific Coast Highway and 1.50 miles from State Route 22, connecting residents to employment hubs throughout Los Angeles and Orange Counties. The neighborhoods surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 3723 East 8th Street.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower