Marcus & Millichap REIS is pleased to present 938 Stanley Avenue in the City of Long Beach, CA. The subject property is a mixed-use property comprised of one house, four apartment units and three retail suites. Situated on a 5,200 square foot lot and totaling 5,297 rentable square feet, the property offers an attractive residential unit mix comprised of (1) three bedroom/ one bathroom unit, (1) two bedroom/ two bathroom house, and (3) one bedroom/ one bathroom units, in addition to the three retail suites.
Located in the City of Long Beach, this property is minutes away from Downtown Long Beach and the highly, desirable Belmont Shore community, offering tenants an abundance of retail and entertainment centers for their enjoyment.
The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The $495 million Long Beach Courthouse was recently completed and opened in September 2013. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a great location with true rental upside and stable return.
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