6410 N Paramount Boulevard, Long Beach, CA 90805
Property · 2 recorded sales since 2016
Sold September 2020
Listing Agent: Justin White (DRE #01267826) · Listing Office: Justin White · Contact: 714-231-2537 · Bought with: Carlos Estrada · Liberty Investment Group · MLS #PW20144293 · Source: CRMLS
About this property
Great opportunity to own a fully-stabilized 15 unit apartment building in Long Beach's Ramona Park neighborhood! Comprised of 14 studios and a 1 bedroom - 1 bathroom unit, this property has rents that are 25% below the competition, keeping it fully-leased during a downturn; perfect for a long-term investor to both immediately earn great cash flow and with opportunity to grow. Located in a growing part of Long Beach with many large employers nearby, the current owner has never experienced any issue in keeping the property leased-up. With 5 of the units currently occupied through Brilliant Corners, a nationally- recognized nonprofit providing supportive housing rental subsidies, the new owner will already have a partner in operating and strategically combating "landlord-unfriendly' legislation in California, as well as cash flow uncertainty brought on by Covid-19. Providing returns at over a 6 CAP without having rehab, the property is a rare opportunity for the savvy investor, especially at the lowest price unit on the market.
Listing description from the September 2020 sale, as reported to CRMLS.
Sale history
