187 Roycroft Ave Long Beach, CA 90803

Property Details for 187 Roycroft Ave

Year built

1950

Lot size

0.07 lot acres

Property size

1,560 SF

Property type

Commercial real estate

APN

7256-023-019

Description

This exceptional 4-unit apartment building presents a compelling investment opportunity in Long Beach's coveted Belmont Shore neighborhood. Built in 1950, this single-story property boasts 1,560 square feet on a 0.07-acre lot (APN: 7256-023-019) and offers a compelling combination of strong cash flow and significant upside potential. The property features desirable amenities including gated access, a spacious common back patio, and roof-mounted solar panels that help offset electricity costs. Each unit is equipped with dual-pane windows and a mini-split A/C unit, enhancing both comfort and energy efficiency. The property's location is unparalleled, placing residents steps away from the vibrant retail, dining, and entertainment options of Belmont Shore's 2nd Street. It's also within walking distance of Rosie's Dog Beach, Long Beach City Beach, and Belmont Veterans Memorial Pier. Furthermore, its proximity to 2nd & PCH, a recently developed open-air mall anchored by Whole Foods Market, and California State University, Long Beach, ensures consistent rental demand. The current NOI is $37,037, with a pro-forma NOI of $57,814, reflecting a potential for significant revenue growth. The asking price is $1,485,000, representing a price per unit of $371,250 and a price per square foot of $951.92. The current cap rate is 2.49%, with a pro-forma cap rate of 3.89%. This fee-simple ownership opportunity offers a rare blend of location, amenities, and financial upside in a highly sought-after market. Drive by only; do not disturb residents.

Location Insight

City

Long Beach

County

Los Angeles

State

California

Longitude

-118.13898371922

Latitude

33.761413141469