Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

12

Building size

4,820 sqft

Lot size

7,554 sqft

Year built

1923

Stories

0

Heating

None

Cooling

None

Status

Active

Days on market

70

MLS #

247358294

About this property

711 E 6th St | 12-Unit Multifamily, Long Beach. 1953-built asset totaling 5,040 SF on an 8,064 SF lot in an established residential corridor near Long Beach's downtown core. The property features (12) studio units averaging 420 SF with zero parking obligation, a structural advantage in this dense urban submarket. Ten units are currently occupied and every unit is at or below market, with rents averaging $1,507.50/month against market rents of $1,525 and two units positioned at market ready to lease. Offered at $1,900,000 ($158,333/unit | $376.98/SF) with a 7.06% current cap rate, the real story is execution simplicity: a 7.20% pro forma cap as below-market units turn to $1,525, with two market-ready vacancies leasing at zero capex.

Location

711 E 6th Street

Long Beach, Los Angeles, CA, 90802