REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Greg Bassirpou • Marcus & Millichap RE Invest
$ 2,375,000
Est. payment | /mo
6,808 SqFt
$ 2,375,000
Est. payment | /mo
6,808 SqFt
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 6,808 sqft
Price per Sqft $348
MLS Listing ID OC-26021177
Year Built 1964
Lot Size 7,424 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
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 5.5% CAP Rate on current income, with upside potential to a 7.4% 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.
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 5.5% CAP Rate on current income, with upside potential to a 7.4% 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
Interior
Laundry Community
Exterior
Garage Spaces 6.0
Pool None
Community Features Curbs, Sidewalks, Storm Drains, Street Lights
Building
Lot Description Near Public Transit
Sewer Public Sewer
NEARBY SCHOOL & BUSINESS