1015 East 20th St new Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90806
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Poly High (Ph)
MLS Listing ID SB25120396
Year Built 1924
Lot Size 0.252 Acres
Property Sub-Type Apartment
Property Description
We are pleased to present the opportunity to acquire a well-performing 10-unit multifamily investment in the heart of Long Beach. Located at 1001–1015 E 20th Street, this asset offers a highly desirable mix of spacious 1, 2, and 3 bedroom units totaling approximately 9,641 rentable square feet on a 10,991 SF lot. This building has the lowest price per foot metric and the highest CAP rate metric on the market currently!! The building delivers immediate day-one cash flow with a current CAP rate of 7.33%, while significant upside remains through rental increases and a potential ADU addition via an existing structure. Pro forma projections push returns to a 9.27% CAP and over 21% cash-on-cash return. Additional features include gated parking lots for tenants and separate gas & electric meters, helping keep operating costs low. Property to be sold As-Is. Inquire for further details.
Location
State CA
County Los Angeles
Area 9 - Poly High
Interior
Fireplaces Type None
Laundry Common Area
Exterior
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Biking,Curbs,Golf,Urban
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,Conventional
Listing Terms Cash,Cash to New Loan,Conventional
Special Listing Condition Standard