8
See all 8 photos
$4,800,000
Est. payment /mo
0.61 Acres Lot
New
520 E Adams ST Long Beach, CA 90805
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Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25079143
HOA Y/N No
Year Built 1959
Lot Size 0.607 Acres
Property Sub-Type Apartment
Property Description
**Excellent Unit Mix of 1 & 2-Bedroom Units**
**Priced at $184,615/Unit & $273/SF**
**10.42 GRM & 6.5% Cap Rate on Current Income**
**7.94 GRM & 9.4% Cap Rate on Market Rents**
**Easy Upside in Rental Income for a New Owner**
**Ideal Rental Location on Residential Street in North Long Beach**
----520 E. Adams Street offers an investor the opportunity to acquire 26 units in the strong rental market of North Long Beach. The property sits on a residential street across the street from Jordan High School and Houghton Park, and has easy access to the 91 & 710 Freeways. Residents enjoy a community pool, covered parking, gated access and an on-site laundry room.
--------Also for sale are neighboring properties of 540 Adams, 555 Adams, 560 Adams & 541 E. 64th Street
**Priced at $184,615/Unit & $273/SF**
**10.42 GRM & 6.5% Cap Rate on Current Income**
**7.94 GRM & 9.4% Cap Rate on Market Rents**
**Easy Upside in Rental Income for a New Owner**
**Ideal Rental Location on Residential Street in North Long Beach**
----520 E. Adams Street offers an investor the opportunity to acquire 26 units in the strong rental market of North Long Beach. The property sits on a residential street across the street from Jordan High School and Houghton Park, and has easy access to the 91 & 710 Freeways. Residents enjoy a community pool, covered parking, gated access and an on-site laundry room.
--------Also for sale are neighboring properties of 540 Adams, 555 Adams, 560 Adams & 541 E. 64th Street
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LBR4R
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 26
Pool Fenced, In Ground, Private
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 26
Private Pool Yes
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7115028010
Energy Description 9299.0
Acceptable Financing Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Doug Rodermund • Morgan Skenderian • dsr@morganskenderian.com