1043 Coronado Avenue, Long Beach, CA 90804

$2,367,000
List Price
$2,367,000
Status
ACTIVE
MLS#
PW24064543
Year Built
1923
Lot Size
6,501
Acres
0.15
Lot Location
Rectangular Lot
Days on Market
19
Property Type
Multifamily
Property Sub Type
Mixed Use
Neighborhood
Eastside (Es)

Property Description

Offered at a 5.79 percent cap rate on current rents, this offering is a great acquisition opportunity for an investor looking for strong in-place cash flow in Long Beach’s desirable Eastside rental market. Assumable financing is available. 1043 Coronado Avenue is a 1923 construction with 11 studios and one two-bed/one-bath unit; most units are single-story floor plans and all are separately metered for gas and electricity. The property also offers on-site laundry and five garages that generate additional income. This asset is located in Eastside Long Beach, a strong-performing rental submarket, one block west of Redondo Avenue and within easy walking distance of a Food4Less-anchored shopping center and several dining options. This location offers tenants convenient access to Belmont Shore, freeways, and Cal State Long Beach. 1043 Coronado Avenue is offered along with 1048 Coronado Avenue, an eight-unit property located across the street; properties must be acquired together. These assets are part of a Long Beach portfolio sale along with 716 Raymond Avenue, a 16-unit asset that may be acquired separately.

Additional Information

Pool Description
None
Garage Spaces Total
6
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
12

Listing courtesy of Listing Agent: Steven Bogoyevac (steve.bogoyevac@marcusmillichap.com) from Listing Office: Steven M. Bogoyevac, Broker.

Mortgage Calculator

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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.