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Multifamily

737 E 5th St

737 E 5th St, Long Beach, CA 90802

Listing Price: $4,500,000

Cap Rate
5.62%
Number of Units
14
GRM
12.05
Occupancy
100.0%
Price/Unit
$321,429
Price/Gross SF
$362.55
Gross SF
12,412

Investment Overview

Marcus & Millichap is pleased to present a very well maintained 14 unit apartment in a fantastic East Village location. The building was built in 1964 and features 4 one bedroom units, 4 two bedroom units, and 6 two bedroom two bath units. The building features 7 one-car garages that rent for $205 per garage. Current ownership has taken extremely good care of these buildings and over the years has replumbed the building, upgraded the electrical, installed new windows, installed a new roof and in general created a turn key asset for a new investor. The current rents are slightly below market allowing a new owner to raise rents without turnover.

Investment Highlights

  • Mostly 2 Bedrooms
  • New Roof, New Windows, Copper Plumbing, Upgraded Electrical
  • Very Well Maintained
  • Fantastic Location with 7 Garages

Exclusively Listed By

Financing By

Multifamily

737 E 5th St

Listing Price: $4,500,000

Cap Rate
5.62%
Number of Units
14
GRM
12.05
Occupancy
100.0%
Price/Unit
$321,429
Price/Gross SF
$362.55
Gross SF
12,412

Investment Highlights

  • Mostly 2 Bedrooms
  • New Roof, New Windows, Copper Plumbing, Upgraded Electrical
  • Very Well Maintained
  • Fantastic Location with 7 Garages

Investment Overview

Marcus & Millichap is pleased to present a very well maintained 14 unit apartment in a fantastic East Village location. The building was built in 1964 and features 4 one bedroom units, 4 two bedroom units, and 6 two bedroom two bath units. The building features 7 one-car garages that rent for $205 per garage. Current ownership has taken extremely good care of these buildings and over the years has replumbed the building, upgraded the electrical, installed new windows, installed a new roof and in general created a turn key asset for a new investor. The current rents are slightly below market allowing a new owner to raise rents without turnover.

Exclusively Listed By

Financing By

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