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USACALong BeachEastside (Es)938 Stanley Ave
938 Stanley Ave, Condo with 0 bedrooms, 0 bathrooms and null parking in Long Beach CA | Image 1
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$2,295,000

938 Stanley Ave, Long Beach, CA

Condo

For Sale

$--,---,---
000
  • Key Facts
  • Description
  • Rooms
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage No
Maintenance Fees $4,800
Taxes 
Days Active 50
Approx. Age 1925
MLS® Number SB25092114

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

We are pleased to exclusively offer for sale this 9 Unit Multi-Family investment located in the vibrant 90804 submarket of Long Beach. This 5, 201 SF lot is centrally positioned in Long Beach and offers tenants convenient access to the entirety of the city as well as the confluence of both Los Angeles and Orange County freeway systems. In addition to the building’s excellent location, it has an outstanding unit mix consisting of (2) 2 Bed/2 Bath Units, (2) 2 Bed/1 Bath units, and (5) 1 Bed/1 Bath units. Further, the front house has a new roof and many of the major electric and plumbing systems have been upgraded. This kind of meticulous management is indicative of a well-run operation providing a smooth, headache free investment. As it stands, the offering presents strong day one income with a current CAP Rate of 6.25% as well as a GRM of 10.58 and future upside with a pro forma CAP Rate of 7.42% and GRM of 9.36. Along these lines, the property features onsite washer and dryer hookups allowing investors an easy avenue to increase their annual Cash Flow upon acquisition. All in all, the building is a half mile from Retro Row and just over a mile from the Traffic Circle and the vast dining, shopping, and entertainment options therein. This provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.Show Description
MLS® NumberSB25092114
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelWasher Hookup, Gas Dryer Hookup
Exposure
Exterior
GarageNo
Approx. Age1925
Stories2
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatCentral, Wall Furnace
A/CCentral Air, Wall Window Units
Heating Fuel

Extras

Rooms

Show Details
Bedroom 1:Not available

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