Basics Details
- Date added: Added 5 months ago
- Type: Multi family
- Building Area: 11,338 sq ft
- Lot size, sq ft: 14,871 sq ft
- Zoning:
- # Of Units: 6
Description
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Description:
***Immediate Income Opportunity***Value-add 6-unit in Long Beach with permits for 5 additional units + parking. Fully renovated, strong cash flow, and shovel-ready expansion. High upside via development or hold. Contact agent for detailed pro forma and plans.
Rare Long Beach opportunity: a fully stabilized 6-unit multifamily income property (5 of 6 units recently renovated, 6th unit has been updated) offered with approved and paid permits for 5 additional units plus structured parking. The redevelopment plan includes 3 × 4BR/3BA & 2 × 3BR/2BA ADUs above parking — conservatively modeled to generate AN ADDITIONAL $23,000/month in rent once built. Pro-forma NOI (post-build) projects to ~$316,739 on gross schedule income of ~$444,120/year. Permits are in hand, making this a fast-to-market value play. Located near freeway access, top Long Beach dining and shopping corridors, and waterfront attractions. Excellent for investors seeking both strong cash flow and development upside.
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