Multifamily

2930 E 5th St

2930 E 5th St, Long Beach, CA 90814

Listing Price: $2,100,000

Cap Rate
3.04%
Number of Units
8
GRM
15.81
Occupancy
97.0%
Price/Unit
$262,500
Price/Gross SF
$313.34
Gross SF
6,702

Investment Overview

Marcus & Millichap is pleased to present an 8 unit apartment building located at 2930 E 5TH Street in Long Beach, California. Built in 1963, the subject property consists of 6,702 rentable square feet spread throughout a 0.15 acre lot. The building consists of 8 units with 2-Bedroom / 1-Bathroom. Owners enjoy the high demand for rentals in a coastal city of Southern California.
Tenants are easily able to commute to large employment center Downtown Long Beach and students are able to bike ride to CSULB college campus.
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 great location with true rental upside and stable return.

Investment Highlights

  • WALK SCORE OF 91 WALK TO RESTAURANTS, SHOPS, ENTERTAINMENT & SCHOOLS
  • GREAT UNIT MIX ENTIRELY OF 2 BEDROOM UNITS
  • LESS THAN ONE MILE TO THE BEACH
  • HISTORICALLY LOW FINANCING AVAILABLE FOR MULTI-FAMILY PROPERTIES

Exclusively Listed By

Financing By

Listing Price: $2,100,000

Cap Rate
3.04%
Number of Units
8
GRM
15.81
Occupancy
97.0%
Price/Unit
$262,500
Price/Gross SF
$313.34
Gross SF
6,702

Investment Highlights

  • WALK SCORE OF 91 WALK TO RESTAURANTS, SHOPS, ENTERTAINMENT & SCHOOLS
  • GREAT UNIT MIX ENTIRELY OF 2 BEDROOM UNITS
  • LESS THAN ONE MILE TO THE BEACH
  • HISTORICALLY LOW FINANCING AVAILABLE FOR MULTI-FAMILY PROPERTIES

Investment Overview

Marcus & Millichap is pleased to present an 8 unit apartment building located at 2930 E 5TH Street in Long Beach, California. Built in 1963, the subject property consists of 6,702 rentable square feet spread throughout a 0.15 acre lot. The building consists of 8 units with 2-Bedroom / 1-Bathroom. Owners enjoy the high demand for rentals in a coastal city of Southern California.
Tenants are easily able to commute to large employment center Downtown Long Beach and students are able to bike ride to CSULB college campus.
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 great location with true rental upside and stable return.

Exclusively Listed By

Financing By

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