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$ 1,900,000
Est. payment | /mo
12 Baths
4,820 SqFt
$ 1,900,000
Est. payment | /mo
12 Baths
4,820 SqFt
Key Details
Property Type Single Family Home
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 4,820 sqft
Price per Sqft $394
MLS Listing ID 26901557
HOA Y/N No
Year Built 1923
Lot Size 7,553 Sqft
Property Description
711 E 6th St | 12-Unit Multifamily, Long Beach. 1953-built asset totaling 5,040 SF on an 8,064 SF lot in an established residential corridor near Long Beach's downtown core. The property features (12) studio units averaging 420 SF with zero parking obligation, a structural advantage in this dense urban submarket. Ten units are currently occupied and every unit is at or below market, with rents averaging $1,507.50/month against market rents of $1,525 and two units positioned at market ready to lease. Offered at $1,900,000 ($158,333/unit | $376.98/SF) with a 7.06% current cap rate, the real story is execution simplicity: a 7.20% pro forma cap as below-market units turn to $1,525, with two market-ready vacancies leasing at zero capex.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD30
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7274019016
Special Listing Condition Standard
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040
Nearby Locations
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