2165 Earl Avenue, Long Beach, CA 90806
Property · 4 recorded sales since 2016
Sold October 2024
Listing Agent: KC James Dorame (DRE #02019663) · Listing Office: Allure Capital Management Corp · Contact: 949-889-2332 · Bought with: Jimmy Thach · Seal Real Estate · MLS #24423989 · Source: CRMLS
About this property
Great investor opportunity to acquire a well maintained 4 unit building located in the high demand South Wrigley Sub-Market of Long Beach. The building is a cash machine, has a 6.9% in place cap rate, a 7.2%+ ProForma Cap Rate, and is 100% leased. It contains (3) spacious 2 Bedroom / 1 Bathroom Units, and (1) very spacious 3 Bedroom / 1 Bathroom Unit. The building also has a detached garage complex containing (3) one car garages that can be used as storage if needed and fit one vehicle parked behind. Three of the apartment have been remodeled within the last two years and the one remaining non-remodeled unit gives the new owner and opportunity to remodel, add value, and bring up to market rent. The property is located in close proximity to schools, banks, shopping centers, public transit, and easy freeway access. It is within walking distance of Long Beach Poly High, and only 2.1 miles from Downtown Long Beach. The area boats strong rental demand and all vacancies have been easily filled at market rent with multiple applicants coming forth.
Listing description from the October 2024 sale, as reported to CRMLS.
Sale history
