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$1,775,000

FOR SALE
Active

2212 E 15th Street

Long Beach, CA

MLS# 26104748

5,254 Sq Ft16bd • 8ba
10 days on marketNalren refreshed

Listing Agent

Taylor Avakian

Listing Agent

Lyon Stahl Investment Real Estate, Inc.

DRE #: 02060040

(310) 425-9838

Brokerage: Lyon Stahl Investment Real Estate, Inc.

Property Details

16

Bedrooms

8

Bathrooms

5,254 sqft

Square Feet

1960

Year Built

6,518 sqft

Lot Size

$338

Price/Sq Ft

N/A

Garage Spaces

N/A

HOA

N/A

Property Type

Description

2212 E 15th St | 8-Unit Multifamily Investment, Long Beach. This 1960-built asset totals 5,256 SF on an 8,409 SF lot in Eastside Long Beach, between the Cherry Avenue corridor and Zaferia. It sits a few blocks north of Anaheim Street's restaurants and coffee shops and just south of Pacific Coast Highway retail and bus lines. The property features (8) 2BR/1BA units averaging 657 SF across a front and back building, with eight on-site parking spaces at a 1:1 ratio. Six of eight units are occupied at an average rent of $1,962, four of them already at the $1,995 market rent, and Units 1 and 2 are delivered vacant. Offered at $1,775,000 ($221,875/unit | $337.71/SF) with a 7.13% cap rate on scheduled rents and a 9.39 GRM, the real story is yield a 7%+ cap at a sub-$225K basis, with two units the buyer can lease or renovate on their own terms from close.

Facts & Features

Building

Year Built
1960
Living Area
5,254 sqft
Building Area Total
5,254
Levels
Multi Split
Stories Total
0

Utilities

Heating
None
Cooling
None

Parking

Parking Features
Driveway Down Slope From Street
Parking Total
8

Community / HOA

HOA
No

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CRMLS

MLS# 26104748

Listed:

Nalren refreshed:

Last updated

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IDX information is provided exclusively for consumers' personal, non-commercial use. Information is deemed reliable but not guaranteed. Buyer should independently verify all information.

Listed by: Lyon Stahl Investment Real Estate, Inc.

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Advertising Broker: Nalren Corp (CA DRE #02423715)

Licensed in the state of California

Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.