Discover this charming Spanish-style 13-unit apartment building nestled in the heart of Long Beach’s vibrant East Side neighborhood. Combining timeless architectural appeal with modern upgrades, this property presents an exceptional opportunity for investors seeking a value-add asset with significant income potential.
With a remarkable 35% upside in rents, a new owner can unlock tremendous cash flow while capitalizing on the extensive improvements already completed. These include the installation of 13 new wall heaters (1990), a full repipe of gas lines (1998), a complete replacement of water supply lines (2006), the addition of 14 new electric meters (1990), double-pane vinyl windows throughout (2017), new 100 gallon water heater (2022), and all ABS plastic drain lines.
The original floor plans also offer an opportunity for reconfiguration to unlock even more rental income potential. This reconfiguration has already been completed on unit #10.
For qualified buyers, seller financing with flexible terms further enhances the accessibility of this investment. Don’t miss this chance to acquire a well-maintained property in a sought-after location with substantial upside!
