5550 E 2nd Street, Long Beach, CA 90803
Commercial property
Sold March 2024
Listing Agent: George Bustamante (DRE #01484265) · Listing Office: Coldwell Banker Commercial · Contact: 714-856-7017 · Bought with: General NONMEMBER · NONMEMBER MRML · MLS #PW24002962 · Source: CRMLS
About this commercial property
Rare mixed-use opportunity situated in the heart of Naples Island, Long Beach, California. The property comprises a two-story building with a total area of 3,428 sq ft, situated on a 3,207 sq ft lot. comprised of 3-commercial units totaling approximately 1,866 sf and 2-2brx 1ba apartment units. at street level It features 4 parking spaces, including 3 garages. Currently occupied, the property may be delivered without tenants, presenting an excellent opportunity for either an owner/user or an investor targeting a potential 5.89% CAP rate. Positioned on a main thoroughfare with a daily vehicle count exceeding 40,000, this property offers significant visibility and accessibility. It's an ideal investment for those seeking prime coastal real estate. Additionally, the property holds potential for commercial and short-term rental uses, providing upside potential for income generation. Situated in the coveted Belmont Shore, Alamitos Bay, Pacific Ocean, Peninsula area of Long Beach, this property offers a highly desirable coastal lifestyle. It's an excellent opportunity to fulfill the California dream of living, working, and playing by the beach every day. All information is deemed reliable but not guaranteed; buyers are encouraged to conduct their own investigations.
Listing description from the March 2024 sale, as reported to CRMLS.
Sale history