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Listed by Greg Bassirpou, DRE #01365951 • Marcus & Millichap RE Invest
$ 2,375,000
Est. payment | /mo
7,424 Sqft Lot
$ 2,375,000
Est. payment | /mo
7,424 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26021177
Year Built 1964
Lot Size 7,424 Sqft
Source California Regional MLS
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
Area 699 - Not Defined
Interior
Laundry Community Facility
Exterior
Garage Spaces 6.0
Pool None
Building
Water District - Public
Others
Tax ID 7131008008
Special Listing Condition Not Applicable
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