Investment Property, Long Beach, CA

Nov 30, 2011 | No Responses

Long Beach apartment units are enjoying brisk sales, despite the downturn. This buyer’s-market is being shaped by Cap Rates of 6-8%  and loans are down in the 4′s. Our new listing at 2383 Chestnut is a case in point. At $720,000, this well-preserved Art Deco building is priced at over $250,000 less than its value in 2005.  The Cap-Rate is almost 7% and the asking price is only $90,000 per unit.

2383 Chestnut is fully rented, and the longtime managers have kept the building stable and in excellent shape. With (1) 2+1, (6) 1+1 and (1) 0+1. Separately Metered for electric, 5 garages and plenty of extra parking.   Call Jeff Knowles 949.307.2616

2383 Chestnut, Long Beach, CA