$2,375,000
The Plymouth Street Apartments is an 8-unit apartment community located in the City of Long Beach, one of the premier rental markets in Los Angeles County, California. Built in 1964, the property features an attractive and consistent unit mix comprised entirely of two-bedroom/ one-bathroom units, totaling approximately 6,808 square feet on a 7,424 square foot lot. Recent capital improvements include new garage doors, new electrical sub-panels, and new vinyl windows. Additional amenities include a spacious community laundry room, six (6) single-car garages with front driveway parking, and one (1) additional surface parking space. This offering presents a rare opportunity for investors to acquire a stable asset generating a 5.5% CAP Rate on current income, with upside potential to a 7.4% CAP Rate at market rents. Located in the highly desirable Long Beach rental market, the Plymouth Street Apartments is well positioned to deliver strong cash flow and long-term value appreciation.
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Listed by Greg Bassirpou with Marcus & Millichap RE Invest (949) 419-3200
Property Type
Apartment
Status
Active
MLS Number
OC26021177
Year Built
1964
Lot Size
7,423 sq ft