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Multifamily

Southfield West & East Apartments

5565 - 5700 Ackerfield Ave, Long Beach, CA 90805

Listing Price: Request For Offer

Number of Units
143
Gross SF
114,622

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Southfield West and Southfield East Apartments (the “Properties” or “Property”), a two-property offering that can be acquired individually or on a multi-property basis. Marcus & Millichap is currently marketing both Southfield West and Southfield East Apartments in conjunction with one other asset: Rolling Hills Apartments (107 units) in Torrance, CA. Located across the street from one another, the non-renovated Properties are being offered for the first time by a multi-decade owner. Southfield East (93 units) and Southfield West (50 units) benefit from their proximity to some of the region’s most robust employment hubs and entertainment centers, such as Downtown Long Beach, the South Bay, Downtown Los Angeles, and Anaheim. The Properties represent the quintessential value-add opportunity to significantly increase rental income through a comprehensive value-add program focused on enhancing the unit interiors and common areas and amenities, and potential for over 42% (WAVG) upside above in-place gross rents.

Investment Highlights

  • Marcus & Millichap is pleased to present Southfield West and Southfield East Apartments, a two-property offering that can be acquired individually or on a multi-property basis
  • Southfield East and West provide a compelling opportunity for an investor to acquire assets with significant value-add potential
  • The Properties' excellent infrastructure provides the potential to expand upon and deliver some of the highest quality amenities in the submarket
  • Southfield East and West, which are in Northern Long Beach, benefit from their proximity to some of the region's most robust employment hubs and entertainment centers, such as Downtown Long Beach, South Bay, Downtown Los Angeles, and Anaheim
  • Long Beach's central location and proximity to a diverse labor pool have made the city a logical choice for many domestic and international businesses throughout Orange and Los Angeles County
  • There are no market-rate properties (50+ units) currently under construction or built in over 30 years in the Northern Long Beach region and any future development would require significantly higher rents, keeping the Properties well insulated for the foreseeable future
  • Long Beach's median price for a single-family residence has grown to $780K. This represents an 122.9% increase in Long Beach home prices over the past ten years. As home ownership remains out of reach for most residents, demand for quality rental housing will remain strong allowing the Properties to capture future rent growth while maintaining high occupancy

Exclusively Listed By

Multifamily

Southfield West & East Apartments

Listing Price: Request For Offer

Number of Units
143
Gross SF
114,622

Investment Highlights

  • Marcus & Millichap is pleased to present Southfield West and Southfield East Apartments, a two-property offering that can be acquired individually or on a multi-property basis
  • Southfield East and West provide a compelling opportunity for an investor to acquire assets with significant value-add potential
  • The Properties' excellent infrastructure provides the potential to expand upon and deliver some of the highest quality amenities in the submarket
  • Southfield East and West, which are in Northern Long Beach, benefit from their proximity to some of the region's most robust employment hubs and entertainment centers, such as Downtown Long Beach, South Bay, Downtown Los Angeles, and Anaheim
  • Long Beach's central location and proximity to a diverse labor pool have made the city a logical choice for many domestic and international businesses throughout Orange and Los Angeles County
  • There are no market-rate properties (50+ units) currently under construction or built in over 30 years in the Northern Long Beach region and any future development would require significantly higher rents, keeping the Properties well insulated for the foreseeable future
  • Long Beach's median price for a single-family residence has grown to $780K. This represents an 122.9% increase in Long Beach home prices over the past ten years. As home ownership remains out of reach for most residents, demand for quality rental housing will remain strong allowing the Properties to capture future rent growth while maintaining high occupancy

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Southfield West and Southfield East Apartments (the “Properties” or “Property”), a two-property offering that can be acquired individually or on a multi-property basis. Marcus & Millichap is currently marketing both Southfield West and Southfield East Apartments in conjunction with one other asset: Rolling Hills Apartments (107 units) in Torrance, CA. Located across the street from one another, the non-renovated Properties are being offered for the first time by a multi-decade owner. Southfield East (93 units) and Southfield West (50 units) benefit from their proximity to some of the region’s most robust employment hubs and entertainment centers, such as Downtown Long Beach, the South Bay, Downtown Los Angeles, and Anaheim. The Properties represent the quintessential value-add opportunity to significantly increase rental income through a comprehensive value-add program focused on enhancing the unit interiors and common areas and amenities, and potential for over 42% (WAVG) upside above in-place gross rents.

Exclusively Listed By

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