1827 Orange Avenue Apartments have been priced to sell at $120,000/unit. The 10 unit courtyard style building is located across the street from Long Beach City College. The unit mix consists of 6 studios, 3 one bedroom/one bath units and one 2 bedroom/one bathroom unit. The property offers an on-site laundry facility and 8 parking spaces. The neighborhood offers several groceries stores, restaurants, coffee shops, parks, schools and public transit routes within walking distance. The existing tenant base has been there for multiple years thus providing flexibility to a buyer with a potential favorable value add opportunity. The asset is located in a desirable rental area close to freeways providing quick access to Los Angeles and Orange County.
Long Beach is the 36th-largest city in the nation and the seventh-largest in California. As of 2010, its population was 462,267. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.
The university is the largest of the California State University system. Its nearly 40,000 students make it the second largest university in the state of California in regards to enrollment. The port is the 2nd busiest seaport in the United States boasting $100 billion in trade and providing more than 316,000 jobs.
