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2241 Earl Ave.

$ 800,000
2241 Earl Ave., ,

Marcus & Millichap is pleased to present 2241 Earl Ave, a five unit non rent controlled multifamily apartment building located in Long Beach, CA. With a desirable unit mix of four 1 BD + 1 BT & one 2 BD + 1 BT, this offering is conveniently located near Veterans Park and Wrigley Marketplace Shopping District containing supermarkets, restaurants and stores including Albertsons, Starbucks, CVS, Wells Fargo Bank, and many others. Additionally, the units are within walking distance to the Blue Line light rail linking Long Beach to Downtown LA. Centrally located between Long Beach Blvd and the 710 Freeway & just north of Pacific Coast Highway, the asset operates with strong existing cash flow in a desirable non rent controlled pocket with approximately 30% upside. This is a great opportunity to not only capitalize on the great existing cash flow in a pocket benefiting from an influx of renters priced out of surrounding areas, but also allows an investor to turn the units & achieve over a 10% cash-on-cash return shortly after closing escrow.

Address: 2241 Earl Ave.
Zip: 0
Country: United States
Property Id : 633
Price: $ 800,000
Property Size: 2,730 ft2
Property Lot Size: 5,662 ft2
Bedrooms: 6
Bathrooms: 5
Units: 5
Building Sqft: 2730
Price Per Sqft: $293.04
Price Per Unit: $160,000
Year Built: 1947