BEST PRICED DEAL IN LONG BEACH. 13.1 GRM AND 5.0% CAP ON IN PLACE RENTS. 14 units in Long Beach - excellent unit mix for the area. All unit interiors were updated by Seller with new kitchen countertops, paint and flooring. There is onsite laundry and a total of 11 parking spaces onsite. Property is offered at 5.0% CAP against in place rents with upside to a 5.9% CAP. Property is professionally managed and well maintained. All units are rented and there is some rental upside for the Buyer to obtain as rent increases are issued. Excellent 1031 Exchange property or for anyone who wants to become an owner in the City of Long Beach which currently has over $8BB in redevelopment occurring. The property is subject to AB1482 Rent Control allowing for 10% increases in 2022. CONTACT LA1 FOR MORE INFO AND A RENT ROLL.
