Centennial Advisers is proud to offer an 8-unit apartment recently finished rehabbed deal in heart of Downtown Long Beach. The subject property is located at 463 W. 6th Street, one block East of Magnolia. and one block South of 7th Street. This investment consists of 6 studio units and 2 one-bedroom/one-bathroom units. Built in 1923, this property is a two-story walk-up style, building with a basement used for storage and potential laundry room. With approximately 4,001 rentable square feet, and a lot size of 2,533 sq. ft. The property is individually metered for gas and electricity, and with upgrades that include new kitchens, quartz countertops, new stove, new refrigerators, refinished original hardwood floors, two-tone paint, and some original Murphy beds. The property is ideal for working-class individuals looking for an affordable, clean, downtown location.
Located within close proximity to numerous forms of public transportation, strong Walk Score of 85 indicating most errands can be accomplished by foot, over 3.5 billion dollars under construction, new restaurants, and a strong downtown shopping corridor this property offers an investor the rare opportunity to acquire an income property in the path or redevelopment. With the property currently 100% vacant, and extensive rehab done to the interiors this offering a very unique opportunity for a new owner to fill the property with tenants of their choice! No headaches, no relocation fees, no "just cause" eviction, and 6.9% potential rent growth with AB 1482 thus making this an excellent addition to any owner's portfolio.
