711 E 6th Street, Long Beach, CA 90802
- $2,000,000
- 12
- BA
- 4,820
- SqFt
- List Price
- $2,000,000
- Status
- ACTIVE
- MLS#
- 26901557
- Year Built
- 1923
- Bathrooms
- 12
- Living Sq. Ft
- 4,820
- Lot Size
- 7,554
- Acres
- 0.17
- Days on Market
- 34
- Property Type
- Multifamily
- Stories
- One Level
Property Description
711 E 6th St | 12-Unit Multifamily, Long Beach. 1953-built asset totaling 5,040 SF on an 8,064 SF lot in an established residential corridor near Long Beach's downtown core. The property features (12) studio units averaging 420 SF with zero parking obligationa structural advantage in this dense urban submarket. Ten units are currently occupied and every unit is at or below market, with in-place rents averaging $1,507.50/month against market rents of $1,525 and two units positioned at market ready to lease. Offered at $2,000,000 ($166,667/unit | $396.83/SF) with a 6.64% in-place cap rate, the real story is execution simplicitya 6.77% pro forma cap and immediate distribution capacity as two market-ready units lease with zero capex required.
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Additional Information
- Heat
- None
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 12
Listing courtesy of Listing Agent: Taylor Avakian (taylor@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.