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Listed by Doug Rodermund • Morgan Skenderian
$ 2,840,000
Est. payment /mo
Price Dropped by $85K
555 East Adams Street Long Beach, CA 90805
10,310 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 10,310 sqft
Price per Sqft $275
MLS Listing ID PW-25079249
Year Built 1958
Lot Size 0.342 Acres
Property Sub-Type Apartment
Property Description
**Pride of Ownership Community Across From Jordan High School & Houghton Park** **Priced at $177,500/Unit & $275.46/SF** **9.55 GRM & 7.1% Cap Rate on Current Income** **7.74 GRM & 9.5% Cap Rate on Market Rents** **Easy Upside in Rental Income for a New Owner** ----555 E. Adams Street offers an investor the opportunity to acquire 16 units in the strong rental market of North Long Beach. The property sits across the street from Jordan High School and Houghton Park, and has easy access to the 91 & 710 Freeways. Residents enjoy a community pool, covered parking, gated access and an on-site laundry room. --------Also for sale are neighboring properties of 520 Adams, 540 Adams, 560 Adams & 541 E. 64th Street
Location
State CA
County Los Angeles
Zoning LBR4R
Interior
Laundry Community
Exterior
Parking Features Gated
Pool Private, Fenced, In Ground
Community Features Curbs, Gutters, Sidewalks
Building
Lot Description Lot 10000-19999 Sqft
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944