Multifamily
228 E Artesia Blvd
228 E Artesia Blvd, Long Beach, CA 90805
Listing Price: $1,175,000
Investment Overview
Marcus & Millichap is pleased to present to market 228 East Artesia Boulevard, a six-unit apartment building in Long Beach, California. This offering is an excellent acquisition opportunity for any investor looking for a well-priced asset with remodeled interiors and upside potential: this building is listed at a 6.23% current cap rate and just $195,833 per unit, and current rents offer 16 percent rental upside.
228 East Artesia Boulevard is a two-story 1962 construction with two two-bed/one-bath and four one-bed/one-bath units that are separately metered for gas and electricity. The building is situated on a gated lot with six surface parking spaces, and the property also offers shared on-site laundry. Additionally, the roof was replaced just six years ago and the building features all copper plumbing.
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.
228 E Artesia Blvd
Investment Highlights
- Excellent opportunity to acquire a competitively priced asset with renovated unit interiors and upside potential at a 6.23 percent current cap rate
- Asset features two two-bedroom and four one-bedroom units, six parking spaces, and shared laundry
- Upgrades include copper plumbing, a newer roof, and remodeled interiors
- 16 percent rental upside
- Located in North Long Beach one block to Starr King Elementary
Exclusively Listed By
Listing Price: $1,175,000
Investment Highlights
- Excellent opportunity to acquire a competitively priced asset with renovated unit interiors and upside potential at a 6.23 percent current cap rate
- Asset features two two-bedroom and four one-bedroom units, six parking spaces, and shared laundry
- Upgrades include copper plumbing, a newer roof, and remodeled interiors
- 16 percent rental upside
- Located in North Long Beach one block to Starr King Elementary
Investment Overview
Marcus & Millichap is pleased to present to market 228 East Artesia Boulevard, a six-unit apartment building in Long Beach, California. This offering is an excellent acquisition opportunity for any investor looking for a well-priced asset with remodeled interiors and upside potential: this building is listed at a 6.23% current cap rate and just $195,833 per unit, and current rents offer 16 percent rental upside. 228 East Artesia Boulevard is a two-story 1962 construction with two two-bed/one-bath and four one-bed/one-bath units that are separately metered for gas and electricity. The building is situated on a gated lot with six surface parking spaces, and the property also offers shared on-site laundry. Additionally, the roof was replaced just six years ago and the building features all copper plumbing. 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.
Exclusively Listed By
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