Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 500 - 520 East 51st Street, a 15-unit multifamily investment property in Long Beach, one of the premier housing markets in Southern California.
The 11,322 square foot property consists of one- and two-bedroom floor plans and offers garage parking, on-site laundry, security doors, a shared courtyard, and gated access.
500 - 520 East 51st Street is situated adjacent to the Bixby Knolls neighborhood, a popular district in the city, and is just north of the city’s largest current and future commercial developments. These include Douglas Park and the future Globemaster Corridor. Together these two sites will provide thousands of new job opportunities and create great synergies between the neighboring business, retail and residential communities.
Historically known for its status as the preeminent harbor city on the West Coast, Long Beach continues to gain notoriety as an exciting and vibrant waterfront destination. Long Beach’s world-class port, prestigious university, unique business market, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets.
Given the strength of the overall apartment market within the city of Long Beach, 500 - 520 East 51st Street offers an investor the ability to capture quality tenants seeking a great historical neighborhood with convenient access to a wide variety of activities, transportation, and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 500 - 520 East 51st Street.
