1561 W Pacific Coast Hwy 1,853 SF 100% Leased Retail Building Long Beach, CA 90810 $2,998,000 ($1,617.92/SF) 6.08% Cap Rate

The property located at 1561 W Pacific Coast Highway and 1812 Canal Street to be sold together. Situated on an 8725 square foot lot, the complex consists of two structures and a parking lot. In the rear, sits an Eleven (11) unit apartment complex, and in front, on PCH, a 2000 square foot retail building which is set up for two tenants. A 8-10 car parking lot seperates the two structures. The apartment unit mix consists of 1- 4 bed/ 2 bath unit, 6 - 2 bed/ 1 bath units, 3 - 1 bed/ 1 bath units and 1 - Studio / 1 bath unit. Utility meters are seperate for both gas and electrical service. The retail building, measuring approximately 2000 square feet, is currently half leased to a barber shop with 15+ years tenancy $1241/m, while the other half is occupied by a sign shop for 12 1/2+ years $1510/m. Additionally, there are two smaller spaces rented out as storage, generating an additional $772 per month.