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Multifamily

761 Walnut Ave

761 Walnut Ave, Long Beach, CA 90813

Listing Price: $1,300,000

Cap Rate
5.00%
Number of Units
4
GRM
13.46
Price/Unit
$325,000
Price/Gross SF
$382.80
Gross SF
3,396

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 761 Walnut Avenue, a 4-unit multifamily investment property located in Long Beach, CA.

761 Walnut Avenue features a highly desirable mix of studio, one, and two-bedroom units with a spacious common area backyard and an on-site laundry facility. Each unit features an individual water heater with 50% of them being brand new. Current ownership has invested significant capital into improvements with select units featuring modern finishes and high-quality upgrades. Additionally, the property features new plumbing and drain lines in 50% of the units, new roofing on the rear building, and brand new subpanels on 75% of the units.

Residents of 761 Walnut Avenue enjoy the property’s prime Long Beach location, with an abundance of Long Beach hot spots within a 1-mile radius of the property. The property is situated less than 1 mile to the North of Alamitos Beach, Junipero Beach, and the Shoreline Pedestrian Bike Path, providing residents with easy access to recreational activities. Additionally, the property is situated in close proximity of both Retro Row and the East Village Arts District, two popular Long Beach hubs for boutique retailers as well as unique cafes and restaurants. Furthermore, the property’s close proximity to Downtown Long Beach provides residents with easy access to major local employers.

The property’s ideal Long Beach location surrounded by an abundance of recreational, entertainment, and retail amenities are a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 761 Walnut Avenue.

Investment Highlights

  • Attractive Mix of Studio, One, & Two-Bedroom Units
  • Substantial Renovation: Significant Capital Improvement on 50% of Units Covering Interior Upgrades
  • Interior Upgrades Include Appliances, Cabinetry, Countertops, Paint & Drywall, New Windows & Doors, Electrical, Fixtures, Flooring, & HVAC Systems
  • Each Unit has its Own Individual Water Heater | 50% of the Units have Brand New Water Heaters
  • Brand New Plumbing & Drain Lines in 50% of Units | Brand New Roof on the Rear Building | 75% of Units have Brand New Subpanels
  • On-Site Laundry Facility & Storage Room
  • Within Walking Distance of a Plethora of Unique Shops & Restaurants Located on Retro Row
  • Within 1 Mile of Alamitos Beach, Junipero Beach, & the Shoreline Pedestrian Bike Path

Exclusively Listed By

Multifamily

761 Walnut Ave

Listing Price: $1,300,000

Cap Rate
5.00%
Number of Units
4
GRM
13.46
Price/Unit
$325,000
Price/Gross SF
$382.80
Gross SF
3,396

Investment Highlights

  • Attractive Mix of Studio, One, & Two-Bedroom Units
  • Substantial Renovation: Significant Capital Improvement on 50% of Units Covering Interior Upgrades
  • Interior Upgrades Include Appliances, Cabinetry, Countertops, Paint & Drywall, New Windows & Doors, Electrical, Fixtures, Flooring, & HVAC Systems
  • Each Unit has its Own Individual Water Heater | 50% of the Units have Brand New Water Heaters
  • Brand New Plumbing & Drain Lines in 50% of Units | Brand New Roof on the Rear Building | 75% of Units have Brand New Subpanels
  • On-Site Laundry Facility & Storage Room
  • Within Walking Distance of a Plethora of Unique Shops & Restaurants Located on Retro Row
  • Within 1 Mile of Alamitos Beach, Junipero Beach, & the Shoreline Pedestrian Bike Path

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 761 Walnut Avenue, a 4-unit multifamily investment property located in Long Beach, CA. 761 Walnut Avenue features a highly desirable mix of studio, one, and two-bedroom units with a spacious common area backyard and an on-site laundry facility. Each unit features an individual water heater with 50% of them being brand new. Current ownership has invested significant capital into improvements with select units featuring modern finishes and high-quality upgrades. Additionally, the property features new plumbing and drain lines in 50% of the units, new roofing on the rear building, and brand new subpanels on 75% of the units. Residents of 761 Walnut Avenue enjoy the property’s prime Long Beach location, with an abundance of Long Beach hot spots within a 1-mile radius of the property. The property is situated less than 1 mile to the North of Alamitos Beach, Junipero Beach, and the Shoreline Pedestrian Bike Path, providing residents with easy access to recreational activities. Additionally, the property is situated in close proximity of both Retro Row and the East Village Arts District, two popular Long Beach hubs for boutique retailers as well as unique cafes and restaurants. Furthermore, the property’s close proximity to Downtown Long Beach provides residents with easy access to major local employers. The property’s ideal Long Beach location surrounded by an abundance of recreational, entertainment, and retail amenities are a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 761 Walnut Avenue.

Exclusively Listed By

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