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Listed by John W. Stiegler II • Lyon Stahl Investment Real Estate, Inc.
$ 2,450,000
Est. payment /mo
Active
1015 East 20th St Long Beach, CA 90806
9,641 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 9,641 sqft
Price per Sqft $254
Subdivision Poly High
MLS Listing ID SB-25120396
Year Built 1924
Lot Size 0.252 Acres
Property Sub-Type Apartment
Property Description
We are pleased to present the opportunity to acquire a well-performing 10-unit multifamily investment in the heart of Long Beach. Located at 1001-1015 E 20th Street, this asset offers a highly desirable mix of spacious 1, 2, and 3 bedroom units totaling approximately 9,641 rentable square feet on a 10,991 SF lot. This building has the lowest price per foot metric and the highest CAP rate metric on the market currently!! The building delivers immediate day-one cash flow with a current CAP rate of 7.33%, while significant upside remains through rental increases and a potential ADU addition via an existing structure. Pro forma projections push returns to a 9.27% CAP and over 21% cash-on-cash return. Additional features include gated parking lots for tenants and separate gas & electric meters, helping keep operating costs low. Property to be sold As-Is. Inquire for further details.
Location
State CA
County Los Angeles
Area 9 - Poly High
Interior
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 1.0
Pool None
Community Features Biking, Curbs, Golf, Urban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer