1420 Walnut Avenue, Long Beach, CA 90813

About this property

We are pleased to present an 8-unit multi-family property located in Long Beach, CA. The unit mix consists of (2) 3-Bedrooms / 2-Bathroom units, (4) 2-bedroom / 1-Bathroom units and (2) 1-Bedroom / 1-Bathroom units. The structure was built in 1963 and is 7,029 rentable square feet on a 6,323 square foot lot. This property has a great amount of potential to add value and raise rents in order to increase cash flow on this asset and ensure to meet current market rents. Owners enjoy the high demand for rentals in a coastal city of Long Beach, as well as shopping, restaurants and nightlife in Downtown Long Beach and the surrounding areas.
 
 The City of Long Beach continues to progress forwards and is currently experiencing a major redevelopment of $2.2 billion. An example of this large scale redevelopment is the new Long Beach Civic Center, which is estimated to be completed early 2019. The Civic Center and the surrounding areas will further continue Long Beach's ability to attract renters due to its strong economy and high quality of life.

Listing description from the September 2019 sale, as reported to CRMLS.

Sale history

$1,995,000

Sold September 2019 · orig. $2,100,000, on market March 2019 · MLS #PW19056424 · Source: CRMLS

Listing Agent: Kevin King · Listing Office: Marcus & Millichap · Contact: 562-257-1200 · Bought with: John Alden · Buckingham Investments, Inc

$910,000

Sold April 2014 · listed $925,000, on market February 2014 · MLS #SR14036683 · Source: CRMLS

Listing Agent: Charles Lundie · Listing Office: AOA Commercial Brkrge · Contact: 818-988-9200 · Bought with: John Chelius · Property Works, Inc.

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