Marcus & Millichap is pleased to present an outstanding multi-family opportunity located in the prime Bluff Heights area of Long Beach, Built in 1963, the property consists of approximately 8,688 square feet set on a 7,418 square foot lot. The subject property is comprised of one one-bedroom/one-bathroom unit, one 2-bedroom/2-bathroom unit and nine 2-bedroom/1-bathroom units. Many of the units have newer hardwood floors and all have been very well maintained with many upgrades.Located in Bluff Heights, the subject property is just walking distance to the outstanding retail corridors of Broadway and Second Street, which are both home to many casual and fine dining restaurants, storefront retail shops and various business of the area. This is truly a unique opportunity to acquire a quality, value-add, true pride of ownership asset in this outstanding rental market and would make a great addition to any investor's portfolio.The city of Long Beach continues to progress forwards and is currently experiencing major redevelopment of $3.5 billion. An example of this large-scale redevelopment is the Long Beach Civic Center, which completed late 2019. The Civic Center includes a new city hall and the Port of Long Beach headquarters, as well as multi-family residential units. Long Beach sustains its ability to attract renters due to its strong economy and high quality of life.
