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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker
$ 1,300,000
Est. payment /mo
Active
228 East Artesia Boulevard Long Beach, CA 90805
3,456 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 3,456 sqft
Price per Sqft $376
MLS Listing ID PW-25046454
Year Built 1962
Lot Size 4,936 Sqft
Property Sub-Type Commercial/Residential
Property Description
228 East Artesia Boulevard is a six-unit apartment building in Long Beach, California. This offering is an excellent opportunity to acquire an asset with remodeled interiors, solid in place rents plus 16 percent rental upside at a 5.56 percent current cap rate. 228 East Artesia Boulevard is a two-story 1962 construction with two two-bed/one-bath and four one-bed/one-bath units that are separately metered for gas and electricity. The building is situated on a gated lot with six surface parking spaces, and the property also offers shared on-site laundry. Additionally, the roof was replaced just six years ago and the building features all copper plumbing. 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. 228 East Artesia Boulevard is offered as part of a portfolio sale along with 248 East Artesia Boulevard, a seven-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
Laundry Community
Exterior
Parking Features Gated
Pool None
Community Features Urban
Building
Lot Description Rectangular Lot
Sewer Public Sewer