620 Coronado Av Long Beach, CA 90814

$4,895,000
Long Beach, CA   90814
0 Beds, 0.0 Baths, 0 sq ft, 13,503 sq ft lot, Built in 1963
620 Coronado Av, Long Beach, CA 90814 Photo 0
620 Coronado Av, Long Beach, CA 90814 Photo 1
620 Coronado Av, Long Beach, CA 90814 Photo 2
620 Coronado Av, Long Beach, CA 90814 Photo 3
620 Coronado Av, Long Beach, CA 90814 Photo 4
620 Coronado Av, Long Beach, CA 90814 Photo 5
620 Coronado Av, Long Beach, CA 90814 Photo 6
620 Coronado Av, Long Beach, CA 90814 Photo 7
620 Coronado Av, Long Beach, CA 90814 Photo 8
0 Beds,
0.0 Baths,
0 sq ft,
13,503 sq ft lot
Built in 1963

Description

MLS# OC18070906

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.

Description

MLS# OC18070906

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.

Area
AREA: 3 - Eastside, Circle Area
B TRACT: Other (OTHR)
COUNTY: LA
Building Info
COMMON WALLS: No Common Walls
POOL: None
LAUNDRY: Community
Exterior Features
LOT: Landscaped
Garage & Parking
PARKING SPACES: 9.00
GARAGE SPACES: 9.00
Community
HOA DUES 1: 0.00
COMMUNITY: Sidewalks
UNITS TOTAL: 18
Land
WATER: Public
LOT NUMBER: 17
TRACT NUMBER: 577100
ZONE: LBR3S
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