711 E 6th ST Long Beach, CA 90802

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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

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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

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040

NEARBY SCHOOL & BUSINESS

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