Low Rise Garden Style Value add opportunity in Downtown Long Beach. The building is comprised of 2 Studios, 1 two bedroom, and 9 one bedroom units. This property is located on street-to- alley corner lot, and has been well maintained. The subject property provides 6 one car garages and onsite laundry facility that offer additional rental income.
The property also offers a private common area courtyard and newer landscaping. The property is in a strong rental market with shortage of rental units and a surplus of tenants. Most of the tenants are long term, so there is an opportunity to increase rents. A Higher rent range is also achievable through cosmetic upgrades to the units. The building is located 5 to 10 minutes from the recently updated Pike, and provides easy access to the 405, 110, 710 and 91 freeways.