Residential Income - 1306 E Hellman Street, Long Beach, CA

Description

Outstanding 9-Unit Long Beach Investment Opportunity. Strong Cash Flow, Major Upgrades & Long-Term Upside! Discover this professionally managed and income-producing 9-unit apartment building offering excellent curb appeal, strong investment performance, and future upside in one of Long Beach's established rental neighborhoods. The property features eight 1 bed/1 bath units and one spacious 3 bed/1 bath unit, offering a total of approximately 4,602 sq/ft of living space on a large 8,233 sq/ft lot. Numerous improvements have been completed throughout the property, including updated and renovated units, with two units redesigned to create a more desirable open concept floor plan. Significant capital improvements include upgrades to the main electrical system and individual unit electrical panels, updated drain lines, and a newer roof double recoating in 2023. Additionally, four attached garages with possible ADU potential for additional rental income (buyer to verify). Impressive investment performance with an approximately 6.7% cap rate and 8.7 GRM. Whether you're an experienced investor looking to expand your rental portfolio or exploring the possibility of owner occupancy while generating rental income, this property presents an outstanding opportunity to build long term wealth. Conveniently located near Downtown Long Beach, Belmont Shore, popular restaurants, shopping, entertainment, and transportation options. Enjoy the Southern California coastal lifestyle with Alamitos Beach less than a mile away! With its desirable unit mix, substantial improvements, established rental income, and long-term investment potential, this is an opportunity you won't want to miss. Add this Long Beach income property to your investment portfolio today!

Property details

Location

1306 E Hellman Street • Long Beach, CA 90813

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