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Listed by Woody Stahl • Lyon Stahl Investment Real Est
$ 5,150,000
Est. payment /mo
Pending
1225 Bennett AVE Long Beach, CA 90804
0.28 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRPW25125963
Year Built 1987
Lot Size 0.277 Acres
Source California Regional MLS
Property Description
1225 Bennett Avenue presents a rare opportunity to acquire a well-maintained 17-unit apartment building in a prime East Long Beach location. Built in 1987 and situated on a sizable 12,065 SF lot, this 16,503 SF, three-story property offers a highly desirable unit mix and significant rental upside in one of the strongest rental submarkets in the area. The building features (4) 2-bedroom, 2-bath units, (11) townhome-style 2-bedroom, 2.5-bath units, and (2) studio lofts-designed to attract a diverse tenant base seeking spacious, functional living space. With a current CAP rate of 3.52% and a projected proforma CAP of 7.00%, the property offers approximately 60% upside in rents, making it a compelling value-add opportunity for investors. On-site amenities include aparking garage with 32 spaces and (2) shared laundry rooms. Priced at $302K per unit and $312 per square foot, the asset is competitively positioned within the market. Ideally located in East Long Beach, the property is just blocksfrom Recreation Park Golf Course and less than two miles from the Long Beach Traffic Circle-home to some of the city's best retail, dining, and entertainment. Whether you're looking to stabilize a well-located asset or reposition it for stronger returns, 1225 Bennett Avenue offers a rare chanc
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Laundry Community Facility
Exterior
Parking Features Garage
Garage Spaces 32.0
Pool None
Building
Water District - Public
Others
Tax ID 7241008002
Special Listing Condition Not Applicable
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