Marcus & Millichap is pleased to present the exclusive listing of 3121 East Mariquita Street, a beautiful 24-unit multifamily apartment building in Long Beach, CA. This non-rent-controlled property is composed of 20 one-bedroom/ one-bathrooms, three, two-bedroom/one-bathrooms, and one, three-bedroom/two-bathroom, all surrounding an inviting courtyard located in the middle of the building. Built in 1961 and carefully maintained by current ownership, this building has a clean and tastefully painted exterior, a newer roof, and 12 covered garage parking spaces.
Boasting a Walk Score of 86, this property is nestled less than half a mile to the beach, providing convenient access to those looking for a world-class lifestyle. Located in the premier Bluff Heights pocket in close proximity to many first-rate restaurants and amenities along Broadway to the South, and Retro Row to the North including; The Long Beach Museum of Art, Gallaghers Pub & Grill, The Attic, Lolas Mexican Cuisine, The Art Theatre of Long Beach, Bixby Parks, and Local Harvest Farmers Market. As such, this asset is a dream attraction for tenants seeking a great beach neighborhood with convenient access to a wide variety of activities and stores.
Cared for under the same ownership, this is the first time this asset has been on the market in decades. Providing significant upside, an investor has the opportunity to bring the rents to market as leases expire.
