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Listed by Tyler Leeson, DRE #01451551 • Marcus & Millichap RE Invest
$ 2,000,000
Est. payment /mo
Contingent
927 Belmont AVE Long Beach, CA 90804
UPDATED:
Key Details
Property Type Commercial
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CROC26146571
Year Built 1947
Source California Regional MLS
Property Description
927 Belmont Avenue is a 7-unit multifamily property located in the desirable Eastside neighborhood of Long Beach, California. Built in 1947, 927 Belmont Avenue totals approximately 5,261 net rentable square feet and features a unit mix of 3 one-bed/one-bath units and 4 two-bed/one-bath units. The property has been well maintained by current ownership and benefits from functional property amenities including 4 single-car garages, 1 surface parking space, security/screen doors, and on-site laundry. The garages and laundry provide the property with ancillary income opportunities beyond base apartment rent, while the balanced unit mix appeals to a broad renter pool seeking well-located housing in East Long Beach. Through consistent annual rent increases, current ownership has maintained in-place rents near market levels, allowing the property to offer an attractive 5.59% cap rate on current income. Additional upside remains available through selective interior renovations as units naturally turn, giving a new owner the ability to further enhance finishes without relying on an aggressive repositioning strategy. The property's location further supports long-term rental demand, with walkable access to Jefferson Leadership Academy, Woodrow Wilson High School, and Recreation Park. Its Eas
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Interior
Laundry Community Facility
Exterior
Garage Spaces 5.0
Pool None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 7254018006
Special Listing Condition Not Applicable , Accepting Backups
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