1015 East 20th St Pending Save Request In-Person Tour Request Virtual Tour
Long Beach,CA 90806
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 9,641 sqft
Price per Sqft $254
MLS Listing ID CRSB25120396
Year Built 1924
Lot Size 0.252 Acres
Property Sub-Type Other
Property Description
We are pleased to present the opportunity to acquire a well-performing 10-unit multifamily investment in the heart of Long Beach. Located at 1001–1015 E 20th Street, this asset offers a highly desirable mix of spacious 1, 2, and 3 bedroom units totaling approximately 9,641 rentable square feet on a 10,991 SF lot. This building has the lowest price per foot metric and the highest CAP rate metric on the market currently!! The building delivers immediate day-one cash flow with a current CAP rate of 7.33%, while significant upside remains through rental increases and a potential ADU addition via an existing structure. Pro forma projections push returns to a 9.27% CAP and over 21% cash-on-cash return. Additional features include gated parking lots for tenants and separate gas & electric meters, helping keep operating costs low. Property to be sold As-Is. Inquire for further details. Buyer to verify any and all information.
Location
State CA
County Los Angeles
Interior
Laundry Other
Building
New Construction No