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Multifamily

790 Redondo Ave

790 Redondo Ave, Long Beach, CA 90804

Listing Price: $1,295,000

Cap Rate
3.40%
Number of Units
2
Occupancy
100.0%
Price/Unit
$647,500
Price/Gross SF
$834.41
Gross SF
1,552

Investment Overview

Marcus & Millichap is pleased to present to market 790 Redondo Avenue, an immaculately maintained duplex in Long Beach, California. The asset is a 1915 construction that consists of two Craftsman bungalows, a large 1,046-square foot one-bedroom/one-bath with a den and in-unit laundry and a three-bedroom/two-bath that is currently leased as an office to a property management company. The bungalows are separated by and share a very spacious fenced patio that is perfect for outdoor living and entertaining. The units are separately metered for gas and electricity, and the property also offers a single-car garage. 790 Redondo Avenue is located in desirable Eastside Long Beach proximate to retail (WalkScore: 88), just one mile from the beach and Belmont Shore, and conveniently near Cal State Long Beach and the 405, 22 and 605 freeways. Tenants enjoy an easy one-block walk to the nearby Starbucks, Smart & Final grocery store, and several popular local restaurants. With its excellent condition, great location in a strong coastal rental market, and top-of-the-market rents being achieved, this offering is an outstanding turnkey investment opportunity. Furthermore, the property management company that leases the front unit is on a month-to-month lease, presenting a new investor with a few potential investment strategies: either retain the company as a reliable tenant, acquire the office space for the investor’s own use, or convert the space back to residential use in the future.

Investment Highlights

  • Excellent Turnkey Acquisition Opportunity of Two Immaculately Maintained Craftsman Bungalows Achieving Top-of-the-Market Rents
  • Mix of One One-Bed/One-Bath Unit With a Den and One Three-Bed/Two-Bath Unit Currently Leased to a Property Management Company as an Office Space
  • Great Eastside Long Beach Location One Block to a Starbucks, a Grocery Store, and Several Restaurants, and Just One Mile to the Beach

Exclusively Listed By

Listing Price: $1,295,000

Cap Rate
3.40%
Number of Units
2
Occupancy
100.0%
Price/Unit
$647,500
Price/Gross SF
$834.41
Gross SF
1,552

Investment Highlights

  • Excellent Turnkey Acquisition Opportunity of Two Immaculately Maintained Craftsman Bungalows Achieving Top-of-the-Market Rents
  • Mix of One One-Bed/One-Bath Unit With a Den and One Three-Bed/Two-Bath Unit Currently Leased to a Property Management Company as an Office Space
  • Great Eastside Long Beach Location One Block to a Starbucks, a Grocery Store, and Several Restaurants, and Just One Mile to the Beach

Investment Overview

Marcus & Millichap is pleased to present to market 790 Redondo Avenue, an immaculately maintained duplex in Long Beach, California. The asset is a 1915 construction that consists of two Craftsman bungalows, a large 1,046-square foot one-bedroom/one-bath with a den and in-unit laundry and a three-bedroom/two-bath that is currently leased as an office to a property management company. The bungalows are separated by and share a very spacious fenced patio that is perfect for outdoor living and entertaining. The units are separately metered for gas and electricity, and the property also offers a single-car garage. 790 Redondo Avenue is located in desirable Eastside Long Beach proximate to retail (WalkScore: 88), just one mile from the beach and Belmont Shore, and conveniently near Cal State Long Beach and the 405, 22 and 605 freeways. Tenants enjoy an easy one-block walk to the nearby Starbucks, Smart & Final grocery store, and several popular local restaurants. With its excellent condition, great location in a strong coastal rental market, and top-of-the-market rents being achieved, this offering is an outstanding turnkey investment opportunity. Furthermore, the property management company that leases the front unit is on a month-to-month lease, presenting a new investor with a few potential investment strategies: either retain the company as a reliable tenant, acquire the office space for the investor’s own use, or convert the space back to residential use in the future.

Exclusively Listed By

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