VALUE-ADD INVESTMENT - OVER 55% UPSIDE POTENTIAL.
620 Coronado Avenue is an 18-unit multifamily investment property located in the Belmont Heights neighborhood of Long Beach. This is the first time the building has been on the market in decades and presents investors with a rare opportunity to acquire a true value-add apartment asset with over 55% rental upside potential.
Situated on a 0.31-acre lot, the 15,364 square foot property consists of one-bedroom and two-bedroom floor plans averaging over 850 square feet. The two-bedroom units make up 78% of the total units within the building. 620 Coronado offers amenities including nine garages, controlled access, a spacious courtyard and on-site laundry. In addition, the building is within walking distance to numerous local and national retail stores and only one mile from the beach.
Given the strength of the overall apartment market within the city of Long Beach, 620 Coronado offers an investor the ability to capture tenants seeking a great beach neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand will be the driver in creating a very strong apartment investment at 620 Coronado Avenue. Listed by Tyler Leeson, Marcus & Millichap Re Invest.