1420 Walnut Ave
Long Beach, CA 90813
Multifamily Property For Sale
·
8 Units
Property Facts
| No. Units | 8 | Lot Size | 0.15 AC |
| Property Type | Multifamily | Building Size | 7,029 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 0.57/1,000 SF |
| Zoning | LBR2N | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,029 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | LBR2N |
About 1420 WALNUT AVE , LONG BEACH, CA 90813
King Real Estate Group of Marcus & Millichap is pleased to present an 8-unit multi-family property located in Long Beach, CA. The unit mix consists of (2) 3-Bedrooms / 2 -Bathroom units, (4) 2-bedroom / 1-Bathroom units and (2) 1-Bedroom / 1-Bathroom units. The structure was built in 1963 and is 7,029 rentable square feet on a 6,323 square foot lot. This property has a great amount of potential to add value and raise rents in order to increase cash flow on this asset and ensure to meet current market rents. Owners enjoy the high demand for rentals in a coastal city of Long Beach, as well as shopping, restaurants and nightlife in Downtown Long Beach and the surrounding areas. The City of Long Beach continues to progress forwards and is currently experiencing a major redevelopment of $2.2 billion. An example of this large scale redevelopment is the new Long Beach Civic Center, which is estimated to be completed early 2019. The Civic Center and the surrounding areas will further continue Long Beach's ability to attract renters due to its strong economy and high quality of life.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,373 | - |
| 1+1 | 2 | $1,123 | - |
| 3+2 | 2 | $1,778 | - |
Property Taxes
| Parcel Number | 7261-014-025 | Improvements Assessment | $1,761,605 |
| Land Assessment | $848,966 | Total Assessment | $2,610,571 |
Property Taxes
