Neighborhood: Lakewood Village (lvd), 29 - Lakewood Village
We are pleased to present an 8-unit apartment building located in Long Beach, California. Built in 1961, the subject property consists of 6,300 rentable square feet spread throughout a 7,210 square foot lot. The unit mix consists of four 1-bedroom / 1-bathroom units and four 2-bedroom / 1-bathroom units. 5 of the 8 units have been upgraded and the entire property has copper plumbing. The property is separately metered for electricity and gas and has additional income from an onsite laundry room. Tenants enjoy living in the Lakewood Village Neighborhood of Long Beach. Located a short distance to local shopping, restaurants, Long Beach City College California State University of Long Beach, as well Long Beach Airport. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is in a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development houses a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This property has a history of high occupancy and currently has upside potential to the existing rents.