725 Artesia Blvd Long Beach, CA 90805-1400

Property Details for 725 Artesia Blvd

Year built

1960

Construction

WOOD

Lot size

0.13 lot acres

Property size

5,522 SF

Zone code

LBCCA

Property type

Investment properties

Property subtype

Live-work space

APN

7115-004-003

APU

7115004003

Description

This Long Beach, CA multifamily investment opportunity presents a 6-unit apartment building with a retail storefront, totaling 5,522 square feet on a 5,853 square foot lot. Built in 1960, the two-story wood-frame and stucco structure boasts a mix of one-, two-, and three-bedroom units, all currently occupied, ensuring immediate cash flow. The property features rear alley parking for residents and prime retail exposure on Artesia Blvd. Located south of the 91 freeway and near the 710, it offers excellent accessibility. The LBCCA zoning allows for both commercial and multifamily use. The asking price is $1,250,000, representing $208,333 per unit and $226 per square foot. The property offers an 8.27% cap rate and a pro-forma cap rate of 13.00%. This presents a strong investment opportunity in a thriving Long Beach market with high rental demand and significant potential for appreciation. The building's diversified revenue streams, from both residential and retail tenants, contribute to its financial stability and long-term value. The location provides tenants with easy access to major transportation routes, further enhancing the property's appeal. This is an exceptional opportunity to acquire a well-located, income-producing asset in a desirable and growing area.