1715 Termino Ave
Long Beach, CA 90804
The Offering
Summary
- Address: 1715 Termino Ave
- City, State, Zip: Long Beach, CA 90804
- Price: $1,195,000
- Units: 5
- Year Built: 1929
- Bldg SF: 3,544
- Cap Rate: 4.51
- GRM: 13.11
- Pro Forma Cap Rate: 6.80%
- Pro Forma GRM: 9.92
- Price/Unit: $239,000
- Price/SF: $337
This is a unique opportunity to purchase a true value add 5-unit apartment complex in a core Southern CA market with real upside to a 6.80% cap rate. This is the first time the property has been on the market in almost 30 years and is a great bite sized deal for both a first time or seasoned investor. The unit mix consists of (1) Large 1 BD/1BA, (4) 1BD/1BA, there is on-site laundry and (2) on-site garages that can generate additional income.
The property boasts an incredibly tenant friendly location near two major arteries (Pacific Coast Hwy & Lakewood Blvd) and is walking distance to many restaurants & retailers including LA Fitness, Chick-fil-A, CVS, Wells Fargo, Chase Bank, Raising Cane's, Starbucks, Jimmy Johns, The Habit, Staples and Big 5 to name a few
Team
Drew McAllister
O: 562.528.8105