Sara's Apartment property is a 29 unit apartment community located in the bike friendly area of Downtown Long Beach. This asset offers investors the unique opportunity to acquire an investment property with a guaranteed cash flow for 7 years with a potential "master-lease" in place and long term upside in appreciation value. Long Beach is a non-rent controlled market. The property was originally constructed in 1957 and features 19 (Studio) and ten (1 Bedroom) units, encompassing a gross building area of 15,650 square feet. The building features controlled-access entry, on-site laundry and attached covered parking garages for 14 units.


Property Type: Multi-Family
Property Use: Rental or Investment
Year Built: 1957
Sub-Lease: 29
Listing ID: PE5QLN
Style: Multi-Family (Over 20 Units)
Building Size: 15,690 SF
Lot Size: 15002 AC
Available Date: Jan 31st, 2017
Area Description

Area Description: The Subject Property is located at 240 E. 7th Street in the downtown neighborhood of Long Beach. Situated less than 7 blocks from Ocean Boulevard, The Pike Outlet Marketplace, and a mile from the ocean, just 6 blocks from the major retailers and restaurants along Pine Avenue.

Property Features
Full Bath: 29
Financials
Gross Income: $211,360
Expenses: $166,360
Additional Media Area Demographics