9 Units In Contract Alamitos Beach Area ( Long Beach Ca)

[Andre Lujan]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Long Beach.

Purchase price: $2,150,000
Cash invested: $407,000
Sale price: $3,990,000

This 9 Unit Multi-Family is located in the Alamitos Beach neighborhood in Long Beach, CA.
11 beds, 9 baths, approximately 6,383 square feet and was built in 1959.
this is a value add bottom-up investment approach
Stabilization estimate 6 - 9 months.
6-7% Rental Cash on Cash Return
25%+Sale (disposition) Cash on Cash Return
The property has 6 parking garages.
3 minute drive, 9 minute walk to the beach
Grand Prix ,Located walking distance to trendy restaurants, shopping, art, coffee spots, park