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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker
$ 1,175,000
Est. payment /mo
Active
228 E Artesia Boulevard Long Beach, CA 90805
3,456 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,456 sqft
Price per Sqft $339
MLS Listing ID CRPW25250729
HOA Y/N No
Year Built 1962
Lot Size 4,936 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
This offering is an excellent acquisition opportunity for any investor looking for a well-priced asset with remodeled interiors and upside potential: this building is listed at a 6.23% current cap rate and just $195,833 per unit, and current rents offer 16 percent rental upside. 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 six-unit building just six parcels away. Properties may be acquired separately or together.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Common Area
Building
Lot Description Other
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