Multifamily Property for Sale in Long Beach, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Long Beach, CA 90805

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. Investment Highlights: • Attractive Unit Mix: 100% Two-Bedroom Units • Recent Capital Improvements: New Windows, Garage Doors, & Electrical Sub-Panels • Close to Desirable Bixby Knolls Area & Virginia Country Club • Ample On-Site Parking: Six (6) Enclosed Garages With Additional Driveway Parking • Convenient Location: Close To Schools, Retail, Freeways, Employment Centers, & Entertainment • Large On-Site Laundry Facility • Strong Returns: 7.4% CAP Rate & 9.4% Cash-On-Cash Return At Market Rents • ADU Development Potential

Market Context

This multifamily in Long Beach, CA is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 52 days. Compare it against other multifamily listings for sale in Long Beach, CA — <a href="/search/sale/multifamily/california/long-beach">view the full market</a>.

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