Multifamily
1048 Coronado Ave
1048 Coronado Ave, Long Beach, CA 90804
Listing Price: $1,750,000
Investment Overview
Marcus & Millichap is pleased to present to market 1048 Coronado Avenue, an eight-unit apartment property in Long Beach, California. Offered at a 5.87 percent cap rate on current rents, this asset is a great acquisition opportunity for an investor looking for strong in-place cash flow and additional rental upside in the strong Eastside Long Beach rental market.
This asset offers a highly desirable layout of all single-story one-bed/one-bath bungalows that are separately metered for gas and electricity. Additionally, the property is securely gated and also offers on-site laundry.
1048 Coronado Avenue is located in Eastside Long Beach, a strong-performing rental submarket, one block west of Redondo Avenue and within easy walking distance of a Food4Less-anchored shopping center and several dining options. This location offers tenants convenient access to Belmont Shore, freeways, and Cal State Long Beach.
1048 Coronado Avenue is offered along with 1043 Coronado Avenue, a 12-unit property located across the street; properties must be acquired together. These assets are part of a Long Beach portfolio sale along with 716 Raymond Avenue, a 16-unit asset that may be acquired separately.
Investment Highlights
- Eight-unit apartment complex with a highly desirable layout of all single-story one-bed/one-bath bungalows
- Offered at a 5.87 percent cap rate on current rents: great acquisition opportunity for an investor looking for cash flow
- 16 Percent rental upside
- Excellent rental location in Eastside Long Beach one block from a Food4Less-anchored shopping center, one block west of Redondo Avenue, and conveniently near Cal State Long Beach, freeways, and Belmont Shore
- Offered as part of a portfolio: 1048 Coronado Avenue must be acquired with 1043 Coronado Avenue; 716 Raymond Avenue may be acquired separately
Exclusively Listed By
Financing By
Listing Price: $1,750,000
Investment Highlights
- Eight-unit apartment complex with a highly desirable layout of all single-story one-bed/one-bath bungalows
- Offered at a 5.87 percent cap rate on current rents: great acquisition opportunity for an investor looking for cash flow
- 16 Percent rental upside
- Excellent rental location in Eastside Long Beach one block from a Food4Less-anchored shopping center, one block west of Redondo Avenue, and conveniently near Cal State Long Beach, freeways, and Belmont Shore
- Offered as part of a portfolio: 1048 Coronado Avenue must be acquired with 1043 Coronado Avenue; 716 Raymond Avenue may be acquired separately
Investment Overview
Marcus & Millichap is pleased to present to market 1048 Coronado Avenue, an eight-unit apartment property in Long Beach, California. Offered at a 5.87 percent cap rate on current rents, this asset is a great acquisition opportunity for an investor looking for strong in-place cash flow and additional rental upside in the strong Eastside Long Beach rental market. This asset offers a highly desirable layout of all single-story one-bed/one-bath bungalows that are separately metered for gas and electricity. Additionally, the property is securely gated and also offers on-site laundry. 1048 Coronado Avenue is located in Eastside Long Beach, a strong-performing rental submarket, one block west of Redondo Avenue and within easy walking distance of a Food4Less-anchored shopping center and several dining options. This location offers tenants convenient access to Belmont Shore, freeways, and Cal State Long Beach. 1048 Coronado Avenue is offered along with 1043 Coronado Avenue, a 12-unit property located across the street; properties must be acquired together. These assets are part of a Long Beach portfolio sale along with 716 Raymond Avenue, a 16-unit asset that may be acquired separately.
Exclusively Listed By
Financing By
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