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2535-2545 E Broadway 10,401 SF 100% Leased Retail Building Long Beach, CA 90803 $2,800,000 ($269.20/SF) 5.11% Cap Rate
INVESTMENT HIGHLIGHTS
- Highly Desirable Bluff Park Neighborhood
- Large 1 & 2 Bedroom Units
- Mixed Use - 3 Retail / 7 Apartments
- Garages, Laundry Room, Large Storage Room for Potential ADU Conversion
EXECUTIVE SUMMARY
Skyline Commercial Advisors along with Triqor Group are pleased to offer the opportunity to acquire The Broadway Retail and Apartments, a 10 unit mixed use building located in the Bluff Park area of Long Beach, CA. The property offers (3) commercial storefront units, (2) 1 bedroom units, and (5) two bedroom units, producing excellent income. Community amenities include on-site laundry as well as a spacious central courtyard for tenants to enjoy. The buildings have been very well maintained showing clear pride of ownership. There is untapped potential for additional income and ADU's with the property footprint containing ample storage and garage parking in the rear. The Broadway Retail and Apartments provides an investor the opportunity to acquire an income producing asset in a prime location in Long Beach.
The Broadway Retail and Apartments are located on the corner of Broadway and Wisconsin Ave, in the Bluff Park area of coastal Long Beach. The property benefits from the nearby restaurants and storefronts on Broadway and close proximity to the exciting Retro Row area less than 0.75 miles away. Additionally, residents have access within walking distance to a variety of nearby amenities including Bluff Park, Belmont Shore's 2nd Street, and the ocean. The high walkability of the area makes it a prime location for both businesses and residents to enjoy.
The Broadway Retail and Apartments are located on the corner of Broadway and Wisconsin Ave, in the Bluff Park area of coastal Long Beach. The property benefits from the nearby restaurants and storefronts on Broadway and close proximity to the exciting Retro Row area less than 0.75 miles away. Additionally, residents have access within walking distance to a variety of nearby amenities including Bluff Park, Belmont Shore's 2nd Street, and the ocean. The high walkability of the area makes it a prime location for both businesses and residents to enjoy.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
10,401 SF
Building Class
C
Year Built
1946
Price
$2,800,000
Price Per SF
$269.20
Cap Rate
5.11%
NOI
$143,075
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.09
Lot Size
0.22 AC
Zoning
LBCNP
Frontage
160’ on Broadway
Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (90)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7263-016-014 | Improvements Assessment | $420,173 |
| Land Assessment | $272,128 | Total Assessment | $692,301 |
PROPERTY TAXES
Parcel Number
7263-016-014
Land Assessment
$272,128
Improvements Assessment
$420,173
Total Assessment
$692,301
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2535-2545 E Broadway
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