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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker
$ 1,475,000
Est. payment | /mo
5,112 SqFt
$ 1,475,000
Est. payment | /mo
5,112 SqFt
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 5,112 sqft
Price per Sqft $288
Subdivision Poly High
MLS Listing ID PW-25250661
Year Built 1963
Lot Size 4,851 Sqft
Property Sub-Type Commercial/Residential
Source California Regional Multiple Listing Service (CRMLS)
Property Description
This offering is a great opportunity to acquire an asset with a desirable unit mix and 16 percent rental upside at a 6.69 percent current cap rate. 248 East Artesia Boulevard is a 1963 construction two-story building with five two-bed/one-bath and two one-bed/one-bath units that are separately metered for gas and electricity. The building features copper plumbing and also offers on-site laundry and five tuck-under parking spaces. The property is located in North Long Beach proximate to the 91 and 710 Freeways and one block to Starr King Elementary. This area is a strong rental submarket with consistently low vacancy rates. 248 East Artesia Boulevard is offered as part of a portfolio sale along with 228 East Artesia Boulevard, a six-unit building just six parcels away. Properties may be acquired separately or together.
Location
State CA
County Los Angeles
Area 9 - Poly High
Zoning LBR3T
Interior
Laundry Community
Exterior
Pool None
Community Features Urban
Building
Lot Description Rectangular Lot
Sewer Public Sewer
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Marissa Buss & Danny Lampert
Lic# 01770909 | 01834114