711 E 6th StreetLong Beach, CA 90802
Los Angeles County
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.
Property Information
- Property type
- Residential Income
- Year built
- 1923
- Living area
- 4,820 Sq Ft
- Lot size
- 0.17 acres
- Lot dimensions
- 50x150
- Zoning
- LBPD30
- Days on market
- 41
- MLS® Listing#
- 26901557
Property Features
- Cooling
- None
- Heating
- None
- Parking
- None
Financial Details
- HOA
- None
- Parcel number
- 7274019016
Directions
Near the corner of E 6th St and Lime Ave
Listing Courtesy: Lyon Stahl Investment Real Estate, Inc. - 3104259838
Presented by: Taylor Avakian and Freddie Gershinson
Licensed in the state of California.
Commute Calculator
Explore commute times from 711 E 6th Street, Long Beach, CA 90802.
