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Sold Date6/13/2021
Closed

816 Alamitos AveLong Beach, California CA90813

Listing IDSB21029901

3,498 SqFt 0.150 Acres

$1,299,000

Perfectly located this property is only 9 blocks from the Pacific ocean between downtown Long Beach, the East Arts Districts, and Alamitos Beach. The impressive property consists of 3 separate structures: (1) 5BD/1BA house, (1) 4BD/2BA house, and (2) 3BD/1BA units. The 4BD/2BA house was recently renovated and leased. There is a value-add potential at over 15% to market rents. This property is being offered at a CAP rate of 5% and GRM of 12.46 with an upside to achieve a CAP rate of 6.1% and GRM of 10.8. ONE UNIT TO BE DELIVERED VACANT!
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