$5,773/mo
OWNER HAS MOVED, AND WANTS THIS SOLD! New pricing allows for one of the best CAP Rates on the Market! Current CAP Rate is 6.92% with a 10.48 GRM. Year 1 CAP Rate will be 7.79%, with a Pro-Forma CAP Rate of over 8.36%. Situated just 1.4 miles from the Beach, the building is also close to Downtown, Long Beach Poly and Retro Row. The Unit Mix is comprised of: Two (2) - 2 Bedroom / 1 Bath and Three (3) – 1 Bedroom / 1 Bath Units, with gated carport and open parking. Furthermore, 60% of the units were renovated in the past year with upside still available via Rents, initiating a RUBS program, or the addition of ADU units in the Carport area. Since this building is not subject to any rent control beyond (AB 1482), the investment offers a solid return, with great potential for the future.