18
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$5,150,000
Est. payment /mo
0.28 Acres Lot
Pending
1225 Bennett AVE Long Beach, CA 90804
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Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
Subdivision Circle (Ca)
MLS Listing ID PW25125963
HOA Y/N No
Year Built 1987
Lot Size 0.277 Acres
Lot Dimensions Assessor
Property Sub-Type Mixed Use
Property Description
1225 Bennett Avenue presents a rare opportunity to acquire a well-maintained 17-unit apartment building in a prime East Long Beach location. Built in 1987 and situated on a sizable 12,065 SF lot, this 16,503 SF, three-story property offers a highly desirable unit mix and significant rental upside in one of the strongest rental submarkets in the area.
The building features (4) 2-bedroom, 2-bath units, (11) townhome-style 2-bedroom, 2.5-bath units, and (2) studio lofts—designed to attract a diverse tenant base seeking spacious, functional living space. With a current CAP rate of 3.52% and a projected proforma CAP of 7.00%, the property offers approximately 60% upside in rents, making it a compelling value-add opportunity for investors.
On-site amenities include aparking garage with 32 spaces and (2) shared laundry rooms. Priced at $302K per unit and $312 per square foot, the asset is competitively positioned within the market.
Ideally located in East Long Beach, the property is just blocksfrom Recreation Park Golf Course and less than two miles from the Long Beach Traffic Circle—home to some of the city's best retail, dining, and entertainment.
Whether you're looking to stabilize a well-located asset or reposition it for stronger returns, 1225 Bennett Avenue offers a rare chance to invest in a quality multifamily property with built-in upside.
The building features (4) 2-bedroom, 2-bath units, (11) townhome-style 2-bedroom, 2.5-bath units, and (2) studio lofts—designed to attract a diverse tenant base seeking spacious, functional living space. With a current CAP rate of 3.52% and a projected proforma CAP of 7.00%, the property offers approximately 60% upside in rents, making it a compelling value-add opportunity for investors.
On-site amenities include aparking garage with 32 spaces and (2) shared laundry rooms. Priced at $302K per unit and $312 per square foot, the asset is competitively positioned within the market.
Ideally located in East Long Beach, the property is just blocksfrom Recreation Park Golf Course and less than two miles from the Long Beach Traffic Circle—home to some of the city's best retail, dining, and entertainment.
Whether you're looking to stabilize a well-located asset or reposition it for stronger returns, 1225 Bennett Avenue offers a rare chance to invest in a quality multifamily property with built-in upside.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Zoning LBCCN
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Garage
Garage Spaces 32.0
Garage Description 32.0
Pool None
Community Features Biking
Total Parking Spaces 32
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7241008002
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Lease Land No
Listed by Woody Stahl • Lyon Stahl Investment Real Est • [email protected]
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