Multifamily
248 E Artesia Blvd
248 E Artesia Blvd, Long Beach, CA 90805
Listing Price: $1,645,000
Investment Overview
Marcus & Millichap is pleased to present to market 248 East Artesia Boulevard, a seven-unit apartment building in Long Beach, California. This offering is a great opportunity to acquire an asset with a desirable unit mix and 18 percent rental upside s at a 6.17 percent current cap rate.
248 East Artesia Boulevard is a 1963 construction two-story building with five two-bed/one-bath and two one-bed/one-bath units that are separately metered for gas and electricity. The building features copper plumbing and also offers on-site laundry and five tuck-under parking spaces.
The property is located in North Long Beach proximate to the 91 and 710 Freeways and one block to Starr King Elementary. This area is a strong rental submarket with consistently low vacancy rates.
248 East Artesia Boulevard is offered as part of a portfolio sale along with 228 East Artesia Boulevard, a six-unit building just six parcels away. Properties may be acquired separately or together.
248 E Artesia Blvd
Investment Highlights
- Seven-unit apartment building with strong in-place rents offered at a 6.17 percent current cap rate
- Desirable mix of five two-bed/one-bath and two one-bed/one-bath units
- Property features copper plumbing, on-site laundry, and five tuck-under parking spaces
- 18 Percent rental upside
- Located in North Long Beach proximate to the 91 and 710 Freeways and one block to Starr King Elementary
- Offered along with 228 East Artesia Boulevard, a six-unit building just six parcels away. Properties may be acquired separately or together.
Exclusively Listed By
Listing Price: $1,645,000
Investment Highlights
- Seven-unit apartment building with strong in-place rents offered at a 6.17 percent current cap rate
- Desirable mix of five two-bed/one-bath and two one-bed/one-bath units
- Property features copper plumbing, on-site laundry, and five tuck-under parking spaces
- 18 Percent rental upside
- Located in North Long Beach proximate to the 91 and 710 Freeways and one block to Starr King Elementary
- Offered along with 228 East Artesia Boulevard, a six-unit building just six parcels away. Properties may be acquired separately or together.
Investment Overview
Marcus & Millichap is pleased to present to market 248 East Artesia Boulevard, a seven-unit apartment building in Long Beach, California. This offering is a great opportunity to acquire an asset with a desirable unit mix and 18 percent rental upside s at a 6.17 percent current cap rate. 248 East Artesia Boulevard is a 1963 construction two-story building with five two-bed/one-bath and two one-bed/one-bath units that are separately metered for gas and electricity. The building features copper plumbing and also offers on-site laundry and five tuck-under parking spaces. The property is located in North Long Beach proximate to the 91 and 710 Freeways and one block to Starr King Elementary. This area is a strong rental submarket with consistently low vacancy rates. 248 East Artesia Boulevard is offered as part of a portfolio sale along with 228 East Artesia Boulevard, a six-unit building just six parcels away. Properties may be acquired separately or together.
Exclusively Listed By
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