1501 Hughes Way Long Beach, CA 90810-1876

This exceptional Class A, four-story executive office building in Long Beach, California, presents a compelling investment opportunity. Located at 1501 Hughes Way, 90810, this property boasts 78,404 square feet of office space across ten units, currently operating at 62% occupancy with a gross lease structure and one-year lease terms. The building, constructed in 1984 and renovated the same year, sits on a 1.845-acre lot and includes 50 parking spaces. The asking price is $16,100,000, representing a price per square foot of $205.35 and a land value of $229.58 per square foot. The property features a 0.90% cap rate and a net operating income (NOI) of $145,462. The permitted zoning is LBPPD2. The property's strategic location offers easy access to major freeways, including the Century (105) and San Gabriel (605) freeways, and proximity to the Ports of Los Angeles and Long Beach. This multi-tenant building presents a unique opportunity for investors seeking a well-located, established office property in a thriving market. The property consists of two APNs: 7310016082 and 7310016081. A new cooling tower has recently been installed.