215 W 8th Street, Long Beach, CA 90813
Property · 2 recorded sales since 2018
Sold March 2019
Listing Agent: Matthew Mahowald (DRE #02001732) · Listing Office: Buckingham Investments, Inc · Contact: 310 982-7055 · Bought with: Anthony Walker · Buckingham Investments, Inc · MLS #SB18294889 · Source: CRMLS
About this property
This massive 4-unit property is currently performing at 11.9 GRM, with a 5.7% Cap Rate - outperforming the local market! Recent major system upgrades include all new roof, plumbing, windows, landscaping, exterior stucco, and paint. The property consists of two 4bed/1.5bath units, one 3bed/1.5bath unit, and one 3bed/2bath unit. Each unit is large (1,000+ sqft) and offers functional layouts, laundry, parking, and are separately metered for gas and electricity. One unit just went through an extensive remodel, quickly renting at top of the market rates, and all other units are in good condition. Long Beach's first designated historic district, Willmore City / Drake Park Historic District, is a community rich in history, character, and charm. This dense rental market is perfect for investors who enjoy low vacancy rates, high market rental rates, and strong long-term appreciation. Close proximity to Downtown Long Beach provides maximum accessibility, with plenty of public transportation, freeway access, and a high walk score. The beach, parks, and other community amenities/ attractions like the Queen Marry and Aquarium are just minutes away! Long Beach is resurging due to hundreds of millions of dollars invested in private and public developments, a growing local economy with strong employment, and the increasing demand to "live, work, and play" in this remarkable community. This property is a great addition to any portfolio!
Listing description from the March 2019 sale, as reported to CRMLS.
Sale history
