Multifamily
111 W Del Amo Blvd
111 W Del Amo Blvd, Long Beach, CA 90805
Listing Price: $3,995,000
Investment Overview
Marcus & Millichap is pleased to present to market 111 West Del Amo Boulevard, an 18-unit apartment building in Long Beach, California. This asset presents a great opportunity for an investor to acquire a partially renovated asset in a strong rental market, continue renovating the property, and capture 42 percent rental upside. 111 West Del Amo Boulevard offers a mix of eight two-bedroom/one-bath and 10 one-bedroom/one-bath units and a competitive amenities package that includes a pool, controlled access, laundry facilities, and 12 single-car garages with tandem driveway parking. The asset boasts several recent improvements, including all new windows, a new pool fence, newer pool equipment, and the recent remodeling of three units with the remodel of a fourth unit currently underway. The property is in a solid rental location with great visibility along Del Amo Boulevard and proximate to schools; Perry Lindsey Middle School is directly across the street, and Dooley Elementary is just down the block. Additionally, the Bixby Knolls Shopping Center is a mile away, offering tenants easy access to a Vons, ALDI, Marshalls, Starbucks, post office, and more.
111 W Del Amo Blvd
Investment Highlights
- 18-Unit Apartment Building With a Mix of Eight Two-Bedroom/One-Bath Units and 10 One-Bedroom/ One-Bath Units
- Partially Renovated Asset With 42 Percent Rental Upside
- Property Boasts a Pool, Garage Parking, On-Site Laundry, Controlled Access, and New Windows
- Potential Assumable Financing Available: 3.25% Fixed For Approximately Three More Years With a Remaining Balance of $1.902 Million as of February 2023
- Located in a Strong Rental Market Directly Across From a Middle School and Proximate to the Virginia Country Club
Exclusively Listed By
Financing By
Listing Price: $3,995,000
Investment Highlights
- 18-Unit Apartment Building With a Mix of Eight Two-Bedroom/One-Bath Units and 10 One-Bedroom/ One-Bath Units
- Partially Renovated Asset With 42 Percent Rental Upside
- Property Boasts a Pool, Garage Parking, On-Site Laundry, Controlled Access, and New Windows
- Potential Assumable Financing Available: 3.25% Fixed For Approximately Three More Years With a Remaining Balance of $1.902 Million as of February 2023
- Located in a Strong Rental Market Directly Across From a Middle School and Proximate to the Virginia Country Club
Investment Overview
Marcus & Millichap is pleased to present to market 111 West Del Amo Boulevard, an 18-unit apartment building in Long Beach, California. This asset presents a great opportunity for an investor to acquire a partially renovated asset in a strong rental market, continue renovating the property, and capture 42 percent rental upside. 111 West Del Amo Boulevard offers a mix of eight two-bedroom/one-bath and 10 one-bedroom/one-bath units and a competitive amenities package that includes a pool, controlled access, laundry facilities, and 12 single-car garages with tandem driveway parking. The asset boasts several recent improvements, including all new windows, a new pool fence, newer pool equipment, and the recent remodeling of three units with the remodel of a fourth unit currently underway. The property is in a solid rental location with great visibility along Del Amo Boulevard and proximate to schools; Perry Lindsey Middle School is directly across the street, and Dooley Elementary is just down the block. Additionally, the Bixby Knolls Shopping Center is a mile away, offering tenants easy access to a Vons, ALDI, Marshalls, Starbucks, post office, and more.
Exclusively Listed By
Financing By
