1117 E Carson Street, Long Beach, CA 90807
Property
Sold January 2023
Listing Agent: Tyler Leeson (DRE #01451551) · Listing Office: Marcus & Millichap RE Invest · Contact: 949-419-3200 · Bought with: Tyler Leeson · Marcus & Millichap RE Invest · MLS #OC22211290 · Source: CRMLS
About this property
1117 East Carson Street is an 8-unit multifamily investment property located in Long Beach, California. 1117 East Carson Street offers an attractive mix of one and two-bedroom floor plans with amenities including a private lounge area for tenants, a quite central courtyard, on-site laundry, screen doors, dual-pane windows, and garage parking. This extremely well-maintained opportunity has recently underwent substantial renovations to its major systems that include a newer roof (2019), newer windows, electrical meters, gas meters, and in-unit plumbing (as needed). Majority of the units have been upgraded over the years and feature remodeled kitchens and bathrooms. Select units have newer wood flooring. Long Beach’s strong rental metrics, including a 2021 vacancy rate of just 1.8 percent and year-over-year rent growth of 12.1 percent, are evidence of the substantial demand for rental units in the area. With current rents below market rates, 1117 East Carson Street represents an attractive value-add opportunity for a new owner. 1117 East Carson Street is situated in the desirable Bixby Knolls neighborhood of Long Beach, which primarily features single-family homes. Residents enjoy convenient access to everyday needs as well as a plethora of retail, dining, and entertainment options at the recently constructed Long Beach Exchange just 1.85 miles away. Additionally, the property benefits from its location just over 1.25 miles north of Interstate 405, connecting residents to employment hubs throughout Los Angeles and Orange Counties.
Listing description from the January 2023 sale, as reported to CRMLS.
Sale history