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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$2,195,000

Est. payment - /mo

7,422 Sqft Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26021177

HOA Y/N No

Year Built 1964

Lot Size 7,422 Sqft

Property Sub-Type Apartment

Property Description

The Plymouth Street Apartments is an 8-unit apartment community located in the City of Long Beach, one of the premier rental markets in Los Angeles County, California.

Built in 1964, the property features an attractive and consistent unit mix comprised entirely of two-bedroom/ one-bathroom units, totaling approximately 6,808 square feet on a 7,424 square foot lot. Recent capital improvements include new garage doors, new electrical sub-panels, and new vinyl windows.

Additional amenities include a spacious community laundry room, six (6) single-car garages with front driveway parking, and one (1) additional surface parking space.

This offering presents a rare opportunity for investors to acquire a stable asset generating a 6.08% CAP Rate on current income, with upside potential to a 8.37% CAP Rate at market rents. Located in the highly desirable Long Beach rental market, the Plymouth Street Apartments is well positioned to deliver strong cash flow and long-term value appreciation.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 6.0

Garage Description 6.0

Pool None

Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks

Total Parking Spaces 6

Private Pool No

Building

Lot Description Near Public Transit

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7131008008

Energy Description 1125.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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Listed by Greg Bassirpou Marcus & Millichap RE Invest gbassirpou@marcusmillichap.com, DRE #01365951

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46 E Plymouth Long Beach, CA 90805