LP.com

Huge 250k Price Reduction! 10-unit building cash flowing at an amazing 6.5% Cap Rate and 11.1 GRM from day 1! Priced at only 235k/door in the heart of Long Beach, it offers not only 6 fully renovated residential units but also 4 retail spaces (with plans to convert to 4 residential units) offering an incredible upside to 9.6% Cap Rate and 8.1 GRM on Proforma. And if that wasn't enough to pique your interest, there are preliminary plans to convert the attached garages into 2 attached (1bed/1bath) ADUs, further improving the numbers to only 195k/door, 11.9% Cap Rate, and 6.8 GRM. The 6 residential units (100% occupied) have been already fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity. The large 9,180 SF lot comes with ~9 open parking spaces as well as ~4 garage spaces.