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$ 1,645,000
Est. payment | /mo
4,852 Sqft Lot
$ 1,645,000
Est. payment | /mo
4,852 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Na
MLS Listing ID PW25046471
HOA Y/N No
Year Built 1963
Lot Size 4,852 Sqft
Property Sub-Type Mixed Use
Property Description
248 East Artesia Boulevard is a seven-unit apartment building in Long Beach, California. This offering is a great opportunity to acquire an asset with a desirable unit mix and 18 percent rental upside s at a 6.17 percent current cap rate.
248 East Artesia Boulevard is a 1963 construction two-story building with five two-bed/one-bath and two one-bed/one-bath units that are separately metered for gas and electricity. The building features copper plumbing and also offers on-site laundry and five tuck-under parking spaces.
The property is located in North Long Beach proximate to the 91 and 710 Freeways and one block to Starr King Elementary. This area is a strong rental submarket with consistently low vacancy rates.
248 East Artesia Boulevard is offered as part of a portfolio sale along with 228 East Artesia Boulevard, a six-unit building just six parcels away. Properties may be acquired separately or together.
248 East Artesia Boulevard is a 1963 construction two-story building with five two-bed/one-bath and two one-bed/one-bath units that are separately metered for gas and electricity. The building features copper plumbing and also offers on-site laundry and five tuck-under parking spaces.
The property is located in North Long Beach proximate to the 91 and 710 Freeways and one block to Starr King Elementary. This area is a strong rental submarket with consistently low vacancy rates.
248 East Artesia Boulevard is offered as part of a portfolio sale along with 228 East Artesia Boulevard, a six-unit building just six parcels away. Properties may be acquired separately or together.
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR3T
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 5
Pool None
Community Features Urban
Total Parking Spaces 5
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7303012042
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker • steve.bogoyevac@marcusmillichap.com