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Berkshire Hathaway HomeServices California Properties
711 E 6th St, Long Beach, CA 90802
- $1,900,000
- 12
- BA
- 4,820
- SqFt
- List Price
- $1,900,000
- Price Change
- ▼ $100,000 1792457939
- MLS#
- 26901557
- Year Built
- 1923
- Bathrooms
- 12
- Living Sq. Ft
- 4,820
- Lot Size
- 7,554
- Days on Market
- 84
- Property Type
- Multifamily
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.
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Additional Information
- Other Buildings
- None
- Heat
- None
- Cooling
- None
- Number of Cars in Garage
- None
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Courtesy of Lyon Stahl Investment Real Estate, Inc., Taylor Avakian - CA DRE#02060040
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