Multifamily

4120 E 1st St

4120 E 1st St, Long Beach, CA 90803

Listing Price: $3,288,000

Cap Rate
3.38%
Number of Units
8
GRM
18.92
Occupancy
97.00%
Price/Unit
$411,000
Price/Gross SF
$708.62
Gross SF
4,640

Investment Overview

Marcus and Millichap is pleased to present an 8-unit apartment building located at 4120 E. 1st Street in Long Beach, California. Built in 1948, the subject property consists of 4,640 rentable square feet and sits on top a 3,159 square foot lot. The unit mix consists of one 3-bedroom / 2-bathroom unit, one 2-bedroom / 1-bathroom unit, five 1-bedroom / 1-bathroom units and a studio unit. The subject property is separately metered for gas and electricity. Owners enjoy the high demand for rentals in the coastal community of Belmont Shore. Tenants enjoy living close to the ocean and Belmont Shore's 2nd Street where there are shops, restaurants, cafes, and entertainment centers.
The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was recently completed and opened in September 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market in a prime location in Belmont Shore, Long Beach.

Investment Highlights

  • PRIME BELMONT SHORE LOCATION
  • WELL MAINTAINED WITH BEAUTIFUL CURB APPEAL
  • GREAT UNIT MIX

Exclusively Listed By

  • Kevin J. King

    Senior Managing Director Investments

    (562) 257-1246

    Email Kevin

    License(s): CA: 01158184

    Long Beach

  • Arnie Suttipreechanun

    Associate

    Email Arnie

    License(s): CA: 01904248

    Long Beach

Listing Price: $3,288,000

Cap Rate
3.38%
Number of Units
8
GRM
18.92
Occupancy
97.00%
Price/Unit
$411,000
Price/Gross SF
$708.62
Gross SF
4,640

Investment Highlights

  • PRIME BELMONT SHORE LOCATION
  • WELL MAINTAINED WITH BEAUTIFUL CURB APPEAL
  • GREAT UNIT MIX

Investment Overview

Marcus and Millichap is pleased to present an 8-unit apartment building located at 4120 E. 1st Street in Long Beach, California. Built in 1948, the subject property consists of 4,640 rentable square feet and sits on top a 3,159 square foot lot. The unit mix consists of one 3-bedroom / 2-bathroom unit, one 2-bedroom / 1-bathroom unit, five 1-bedroom / 1-bathroom units and a studio unit. The subject property is separately metered for gas and electricity. Owners enjoy the high demand for rentals in the coastal community of Belmont Shore. Tenants enjoy living close to the ocean and Belmont Shore's 2nd Street where there are shops, restaurants, cafes, and entertainment centers.
The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was recently completed and opened in September 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a high demand rental market in a prime location in Belmont Shore, Long Beach.

Exclusively Listed By

  • Kevin J. King

    Senior Managing Director Investments

    (562) 257-1246

    Email Kevin

    License(s): CA: 01158184

    Long Beach

  • Arnie Suttipreechanun

    Associate

    Email Arnie

    License(s): CA: 01904248

    Long Beach

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