2212 E 15th Street, Long Beach, CA 90804
- $1,775,000
- 16
- BD
- 8
- BA
- 5,254
- SqFt
- List Price
- $1,775,000
- Status
- ACTIVE
- MLS#
- 26104748
- Year Built
- 1960
- Bedrooms
- 16
- Bathrooms
- 8
- Living Sq. Ft
- 5,254
- Lot Size
- 6,518
- Acres
- 0.15
- Days on Market
- 11
- Property Type
- Multifamily
- Stories
- Multi Level
Property Description
2212 E 15th St | 8-Unit Multifamily Investment, Long Beach. This 1960-built asset totals 5,256 SF on an 8,409 SF lot in Eastside Long Beach, between the Cherry Avenue corridor and Zaferia. It sits a few blocks north of Anaheim Street's restaurants and coffee shops and just south of Pacific Coast Highway retail and bus lines. The property features (8) 2BR/1BA units averaging 657 SF across a front and back building, with eight on-site parking spaces at a 1:1 ratio. Six of eight units are occupied at an average rent of $1,962, four of them already at the $1,995 market rent, and Units 1 and 2 are delivered vacant. Offered at $1,775,000 ($221,875/unit | $337.71/SF) with a 7.13% cap rate on scheduled rents and a 9.39 GRM, the real story is yield a 7%+ cap at a sub-$225K basis, with two units the buyer can lease or renovate on their own terms from close.
Additional Information
- Heat
- None
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 8
Listing courtesy of Listing Agent: Taylor Avakian (taylor@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.