4.65% GOING-IN CAP RATE ON THIS TURN-KEY 9-UNIT APARTMENT COMPLEX IN ROSE PARK: NO DETAIL WAS SPARED ON THIS TOP-TO-BOTTOM REMODEL COMPLETED IN 2018. 2828 E 6th Street is now setting the new standard for market rents in the Rose Park neighborhood of Long Beach. With a fantastic unit mix of (5) 2 bed / 1 bath, (3) 1 bed / 1 bath, and (1) Studio units, this property is great for any investor looking for a stabilized, cash-flowing asset to add to their portfolio. Current ownership completed major interior and exterior improvements creating a sleek and modern product nestled into one of the City's most popular historic neighborhoods. Improvements include: new engineered hardwood floors, high-end quartz counter-tops, in-unit washers and dryers in 8 units, automatic garage doors on the 5 garages and new landscaping. The property is 100% leased as of February 2019 providing annual gross scheduled income of +/-$221k (including parking and storage income). The property is separately metered for electricity and gas, and master metered for water. Located in Rose Park south, just a short distance from Junipero Beach, Carroll Park, and trendy Retro Row shopping and dining, 2828 E 6th offers its tenants a great location for all that Long Beach has to offer. Buyer and buyer’s agent to verify all property, income and expense information.
