1120-1122 Stanley Ave Long Beach, CA 90804
- Apartment buildings
- 10,182 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1120-1122 Stanley Ave
- Year built
- 1963
- Property size
- 10,182 SF
- Property type
- Apartment buildings
Description
This exceptional Long Beach, CA investment opportunity comprises two buildings totaling 12 units on two parcels at 1120-1122 Stanley Ave, zip code 90804. The property features a mix of unit sizes, including studios, one-bedroom, two-bedroom, and three-bedroom units, offering diverse rental income streams. One building, constructed in 1963, offers 7,582 square feet of rentable space on a 6,523 square foot lot, including a four-car garage. The second building, constructed in 2015 (with the front unit remodeled the same year), boasts 2,600 square feet of rentable space on a 6,369 square foot lot, featuring two large double-car garages with alley access. The combined property totals 10,182 square feet and boasts a strong net operating income (NOI) of $200,780, resulting in a compelling 4.46% capitalization rate. The asking price is $4,500,000, or $375,000 per unit. An assumable loan with a 3.4% interest rate is available through 2028. The property benefits from its location on a well-maintained block and offers additional parking and driveway space. This presents a rare opportunity to acquire a well-maintained multifamily property with potential for rental upside in a desirable Long Beach location. The property is situated in Los Angeles County.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.162
- Latitude
- 33.7813
