Multifamily
111 W Del Amo Blvd
111 W Del Amo Blvd, Long Beach, CA 90805
Listing Price: $3,640,000
Investment Overview
Marcus & Millichap is pleased to present to market 111 West Del Amo Boulevard, an 18-unit apartment building in Long Beach, California. This asset presents a great opportunity for an investor to acquire a partially renovated asset in a strong rental market with 18 percent rental upside.
111 West Del Amo Boulevard offers a mix of eight two-bedroom/one-bath and 10 one-bedroom/one-bath units and a competitive amenities package that includes a pool, controlled access, laundry facilities, and 12 single-car garages with tandem driveway parking.
The asset boasts several recent improvements, including all new windows, a new pool fence, newer pool equipment, and the recent remodeling of three units with the remodel of a fourth unit currently underway.
The property is in a great location just north of Bixby Knolls, near the Virginia Country Club, and proximate to schools: Perry Lindsey Middle School is directly across the street, and Dooley Elementary is just down the block. Additionally, the Bixby Knolls Shopping Center is a mile away, offering tenants easy access to a Vons, ALDI, Marshalls, Starbucks, post office, and more.
111 W Del Amo Blvd
Investment Highlights
- Excellent opportunity to acquire an 18-unit apartment building with a strong going-in cap rate and substantial upside to an 8.89 percent pro forma cap rate
- Competitively priced at just $202,222 per unit for an asset with 44 percent two-bedroom units
- Partially renovated courtyard-style building with a mix of eight two-bedroom/one-bath and 10 one-bedroom/one-bath units
- Amenities include a pool, garage parking, on-site laundry, controlled access, and newer windows
- Great location just north of Bixby Knolls, directly across from a middle school, and near the Virginia Country Club
Exclusively Listed By
Listing Price: $3,640,000
Investment Highlights
- Excellent opportunity to acquire an 18-unit apartment building with a strong going-in cap rate and substantial upside to an 8.89 percent pro forma cap rate
- Competitively priced at just $202,222 per unit for an asset with 44 percent two-bedroom units
- Partially renovated courtyard-style building with a mix of eight two-bedroom/one-bath and 10 one-bedroom/one-bath units
- Amenities include a pool, garage parking, on-site laundry, controlled access, and newer windows
- Great location just north of Bixby Knolls, directly across from a middle school, and near the Virginia Country Club
Investment Overview
Marcus & Millichap is pleased to present to market 111 West Del Amo Boulevard, an 18-unit apartment building in Long Beach, California. This asset presents a great opportunity for an investor to acquire a partially renovated asset in a strong rental market with 18 percent rental upside. 111 West Del Amo Boulevard offers a mix of eight two-bedroom/one-bath and 10 one-bedroom/one-bath units and a competitive amenities package that includes a pool, controlled access, laundry facilities, and 12 single-car garages with tandem driveway parking. The asset boasts several recent improvements, including all new windows, a new pool fence, newer pool equipment, and the recent remodeling of three units with the remodel of a fourth unit currently underway. The property is in a great location just north of Bixby Knolls, near the Virginia Country Club, and proximate to schools: Perry Lindsey Middle School is directly across the street, and Dooley Elementary is just down the block. Additionally, the Bixby Knolls Shopping Center is a mile away, offering tenants easy access to a Vons, ALDI, Marshalls, Starbucks, post office, and more.
Exclusively Listed By
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