202 Obispo Avenue, Long Beach, CA 90803
Property
Sold April 2024
Listing Agent: Tyler Leeson (DRE #01451551) · Listing Office: Marcus & Millichap RE Invest · Contact: 714-713-9086 · Bought with: Tyler Leeson · Marcus & Millichap RE Invest · MLS #OC23217796 · Source: CRMLS
About this property
Bluff Park Multifamily Portfolio is a 2-property, 37-unit multifamily investment portfolio located in Long Beach, CA. The Bluff Park Multifamily Portfolio offers a mix of studio and one-bedroom units featuring vinyl, tile, and carpet flooring, white appliances, ceiling fans, and walk-in closets. The portfolio also offers amenities including a spacious common area courtyard and on-site laundry facilities. A new owner has the opportunity to substantially increase rental income through the modernization of unit interiors. Through this renovation plan, new ownership will elevate the property to a higher standard of living and will receive a significant increase in monthly rental income. The portfolio’s exceptional Bluff Park location places residents within walking distance to an abundance of area amenities including Long Beach City Beach, Bluff Park, Belmont Veterans Memorial Pier, and more. Residents enjoy the properties’ prime location, adjacent to East Broadway, providing easy access to local boutiques and restaurants. Additionally, the portfolio is situated just over 0.75 miles from Retro Row, providing residents with easy access to some of Long Beach’s most unique and vibrant shops and restaurants. Furthermore, the portfolio is just within 1 mile of the abundance of retail, dining, and entertainment options at Belmont Shore’s 2nd Street. The portfolio’s ideal Long Beach location surrounded by neighborhoods offering a wide variety of outdoor activities as well as employment, transportation, and retail amenities is a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at the Bluff Park Multifamily Portfolio.
Listing description from the April 2024 sale, as reported to CRMLS.
Sale history