$4,695,000
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520 E Adams ST Long Beach, CA 90805
0.61 Acres Lot
Key Details
Property Type Residential Income
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW25079143
Year Built 1959
Lot Size 0.607 Acres
Property Sub-Type Apartment
Property Description
**Excellent Unit Mix of 1 & 2-Bedroom Units**
**Priced at $184,615/Unit & $273/SF**
**10.42 GRM & 6.5% Cap Rate on Current Income**
**7.94 GRM & 9.4% Cap Rate on Market Rents**
**Easy Upside in Rental Income for a New Owner**
**Ideal Rental Location on Residential Street in North Long Beach**
----520 E. Adams Street offers an investor the opportunity to acquire 26 units in the strong rental market of North Long Beach. The property sits on a residential street across the street from Jordan High School and Houghton Park, and has easy access to the 91 & 710 Freeways. Residents enjoy a community pool, covered parking, gated access and an on-site laundry room.
--------Also for sale are neighboring properties of 540 Adams, 555 Adams, 560 Adams & 541 E. 64th Street
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LBR4R
Interior
Laundry Common Area
Exterior
Pool Fenced, In Ground, Private
Community Features Curbs, Gutter(s), Sidewalks
Building
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
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Bought with Bill Larson First Team Real Estate
