2165-2171 Earl Ave

Long Beach, CA 90806
Sold
$1,380,000
Bedrooms
8
Bathrooms
4
Square Ft.
3,769

2165-2171 Earl Ave

Great investor opportunity to acquire a well maintained 4 unit building located in the high demand South Wrigley Sub-Market of Long Beach. The building is a cash machine, has a 6.9% in place cap rate, a 7.2%+ ProForma Cap Rate, and is 100% leased. It contains (3) spacious 2 Bedroom / 1 Bathroom Units, and (1) very spacious 3 Bedroom / 1 Bathroom Unit. The building also has a detached garage complex containing (3) one car garages that can be used as storage if needed and fit one vehicle parked behind. Three of the apartment have been remodeled within the last two years and the one remaining non-remodeled unit gives the new owner and opportunity to remodel, add value, and bring up to market rent. The property is located in close proximity to schools, banks, shopping centers, public transit, and easy freeway access. It is within walking distance of Long Beach Poly High, and only 2.1 miles from Downtown Long Beach. The area boats strong rental demand and all vacancies have been easily filled at market rent with multiple applicants coming forth.

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Investment Highlights

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Bedrooms
8
Bathrooms
4
Square Ft.
3,769

CEO/BROKER - DRE #02210442

Francisco J. Ortiz

Francisco-J.-Ortiz---Managing-Partner

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2165-2171 Earl Ave