Multifamily

2022 E 7th St

2022 E 7th St, Long Beach, CA 90804

Listing Price: $2,472,000

Cap Rate
3.91%
Number of Units
8
GRM
16.11
Occupancy
97.0%
Price/Unit
$309,000
Price/Gross SF
$355.99
Gross SF
6,944

Investment Overview

Marcus and Millichap is pleased to present an 8-unit apartment building located at 2022 E. 7th Street in Long Beach, California. Built in 1986, the subject property consists of 6,944 rentable square feet spread throughout a 7,001 square foot lot. The unit mix consists of all 2-bedroom / 2-bathroom units. It is separately metered for gas and electricity.
Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers 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 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 with strong in place income in one of the best neighborhoods of Long Beach.

Investment Highlights

  • GREAT RENTAL LOCATION
  • ON-SITE PARKING
  • SEPARATELY METERED FOR GAS & ELECTRICITY
  • ON-SITE PARKING FOR TENANTS' CONVENIENCE
  • REMODELED UNITS

Exclusively Listed By

Listing Price: $2,472,000

Cap Rate
3.91%
Number of Units
8
GRM
16.11
Occupancy
97.0%
Price/Unit
$309,000
Price/Gross SF
$355.99
Gross SF
6,944

Investment Highlights

  • GREAT RENTAL LOCATION
  • ON-SITE PARKING
  • SEPARATELY METERED FOR GAS & ELECTRICITY
  • ON-SITE PARKING FOR TENANTS' CONVENIENCE
  • REMODELED UNITS

Investment Overview

Marcus and Millichap is pleased to present an 8-unit apartment building located at 2022 E. 7th Street in Long Beach, California. Built in 1986, the subject property consists of 6,944 rentable square feet spread throughout a 7,001 square foot lot. The unit mix consists of all 2-bedroom / 2-bathroom units. It is separately metered for gas and electricity.
Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers 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 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 with strong in place income in one of the best neighborhoods of Long Beach.

Exclusively Listed By

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