720 Maine Avenue, Long Beach, CA 90813
Property · 2 recorded sales since 2018
Sold October 2020
Listing Agent: Gary Tolfa (DRE #00955403) · Listing Office: Triqor Group · Contact: 949-756-3232 · Bought with: Chris Keramati · Triqor Group · MLS #PW20011004 · Source: CRMLS
About this property
The Maine Avenue Apartments, an 8 unit apartment building in walking distance to Downtown Long Beach, CA. Maine Avenue Apartments offer an attractive mix of (2) 3-Bedroom 2 Bath, and (6) 2 Bedroom 1 Bath Units. This is an all electric building to decrease utility costs. As well as high speed wi-fi provided to residents for greater satisfaction and occupancy. These spacious units set this property apart with square footage ranging from 850 – 985 SQFT. With 10 garages plus 7 additional parking spaces and storage areas for potential income, there is ample parking for the property as well as recent renovations including engineered hardwood flooring, fresh paint, and stainless steel appliances. Situated on a cul de sac cuts down on traffic, noise and is safe for tenants to enjoy. All New Energy efficient upgrades and low pressure aerated shower and faucets. Located in the Wilmore District, the building has easy access to freeways. The investment has potential for a 5.8%+ Cap Rate and a 12.6 GRM on market rents. It is 100% occupied with no section 8 tenants. The property has recent renovations including engineered hardwood flooring, fresh paint, and stainless steel appliances.
Listing description from the October 2020 sale, as reported to CRMLS.
Sale history
