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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,375,000

Est. payment | -/mo

2 Beds

1 Bath

7,424 Sqft Lot

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$ 2,375,000

Est. payment | -/mo

Save

2 Beds

1 Bath

7,424 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26021177

Bedrooms 2

Lot Size 7,424 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

The Plymouth Street Apartments is an 8-unit apartment community located in the City of Long Beach, one of the premier rental markets in Los Angeles County, California. Built in 1964, the property features an attractive and consistent unit mix comprised entirely of two-bedroom/ one-bathroom units, totaling approximately 6,808 square feet on a 7,424 square foot lot. Recent capital improvements include new garage doors, new electrical sub-panels, and new vinyl windows. Additional amenities include a spacious community laundry room, six (6) single-car garages with front driveway parking, and one (1) additional surface parking space. This offering presents a rare opportunity for investors to acquire a stable asset generating a 5.5% CAP Rate on current income, with upside potential to a 7.4% CAP Rate at market rents. Located in the highly desirable Long Beach rental market, the Plymouth Street Apartments is well positioned to deliver strong cash flow and long-term value appreciation.

Location

State CA

County Los Angeles

Zoning Public Rec

Direction Please do not disturb tenants; make subject to inspection.

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 7131008008

Acceptable Financing Cash, Exchange

Listing Terms Cash, Exchange

Listed by Greg Bassirpou, DRE#01365951 Marcus & Millichap RE Invest

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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46 E Plymouth Long Beach, CA 90805