Offered at a 5.87 percent cap rate on current rents, this asset is a great acquisition opportunity for an investor looking for strong in-place cash flow and additional rental upside in the strong Eastside Long Beach rental market. This asset offers a highly desirable layout of all single-story one-bed/one-bath bungalows that are separately metered for gas and electricity. Additionally, the property is securely gated and also offers on-site laundry. 1048 Coronado Avenue is located in Eastside Long Beach, a strong-performing rental submarket, one block west of Redondo Avenue and within easy walking distance of a Food4Less-anchored shopping center and several dining options. This location offers tenants convenient access to Belmont Shore, freeways, and Cal State Long Beach.
1048 Coronado Avenue is offered along with 1043 Coronado Avenue, a 12-unit property located across the street; properties must be acquired together. These assets are part of a Long Beach portfolio sale along with 716 Raymond Avenue, a 16-unit asset that may be acquired separately.
Property Type :
Residential Income
Subdivision :
Fallbrook
County :
Los Angeles
Style :
Residential Income
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ByOwner last updated this listing 05/11/2024 @ 15:30
MLS: PW24064035
LISTED BY: Steven Bogoyevac, Steven M. Bogoyevac, Broker
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
