James Melton
James Melton, California Value Group, Inc.Phone: (714) 318-4664
Email: [email protected]

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listing
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Residential IncomeFor Sale
$2,950,000
245 Temple Avenue
Long Beach, CA 90803
Listed by Tamas Batyi DRE#02053534 [email protected] Compass
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$15,327/mo

This property shines with a substantial value-add for growth! There is room to flourish with this investment, and some of the ways include completion of interior renovations (4 of 8 near complete) with a very realistic upside. This apartment building has a lot of growth opportunities! Temple Avenue in Long Beach, California. This 8-unit apartment building is in the highly desirable rental area of Bluff Heights Historic District! Built in 1973, this is a SWEET location where the community meets small businesses in a neighborhood setting. Just steps away from restaurants, cafes, and unique small businesses. Only blocks to the beach with expansive walking and bike paths. The area is a dream! Close enough to Downtown LB festivities and 2nd Street, but far enough to have a sense of neighbors and peace with a work-life balance feeling. It is a rare opportunity to acquire an asset with an attractive current cap rate estimated at 5.5 and a GRM of 13.84.

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