Multifamily

5271 E Anaheim Rd

5271 E Anaheim Rd, Long Beach, CA 90815

Listing Price: $3,295,000

Cap Rate
4.52%
Number of Units
7
GRM
14.54
Occupancy
97.00%
Price/Unit
$470,714
Price/Gross SF
$472.47
Gross SF
6,974

Investment Overview

King Group of Marcus & Millichap is pleased to present a turnkey 7-unit apartment building located in the Park Estates neighborhood in Long Beach, California. Built in 1955, the subject property consists of 6,974 rentable square feet spread throughout a 7,697 square foot lot. There are two 3-bedroom / 3.5-bathroom units, four 2-bedroom / 2-bathroom units, and one 4-bedroom / 4-bathroom unit. It has a pitched roof and contains 5 garages. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and in between Downtown Long Beach and 2nd Street in Belmont Shore where there are many shops, restaurants, cafes, entertainment venues and grocery stores.

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 turnkey property in the highly desirable neighborhood of Park Estates.

Investment Highlights

  • GREAT UNIT MIX
  • CENTRAL EAST LONG BEACH LOCATION
  • LOCATED ADJACENT TO CAL STATE LONG BEACH
  • TURN-KEY BUILDING IN PARK ESTATES

Exclusively Listed By

Listing Price: $3,295,000

Cap Rate
4.52%
Number of Units
7
GRM
14.54
Occupancy
97.00%
Price/Unit
$470,714
Price/Gross SF
$472.47
Gross SF
6,974

Investment Highlights

  • GREAT UNIT MIX
  • CENTRAL EAST LONG BEACH LOCATION
  • LOCATED ADJACENT TO CAL STATE LONG BEACH
  • TURN-KEY BUILDING IN PARK ESTATES

Investment Overview

King Group of Marcus & Millichap is pleased to present a turnkey 7-unit apartment building located in the Park Estates neighborhood in Long Beach, California. Built in 1955, the subject property consists of 6,974 rentable square feet spread throughout a 7,697 square foot lot. There are two 3-bedroom / 3.5-bathroom units, four 2-bedroom / 2-bathroom units, and one 4-bedroom / 4-bathroom unit. It has a pitched roof and contains 5 garages. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and in between Downtown Long Beach and 2nd Street in Belmont Shore where there are many shops, restaurants, cafes, entertainment venues and grocery stores.

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 turnkey property in the highly desirable neighborhood of Park Estates.

Exclusively Listed By

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