Saras 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 restricted cash flow for 7 years with a 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.
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. Listed by George Bustamante, Coldwell Banker Commercial.