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Key Details
Sold Price $1,250,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 7,700 sqft
Price per Sqft $162
MLS Listing ID CROC24040161
Sold Date 09/17/24
HOA Y/N No
Year Built 1927
Lot Size 7,405 Sqft
Acres 0.17
Property Description
1711 - 1715 East 4th Street is a 4-unit plus commercial space, mixed-use investment opportunity located in Long Beach, CA. 1711 - 1715 East 4th Street features 4, two-bedroom apartment units and an approximately 3,500 square foot showroom/office space. This commercial space is available to an Owner/User with a wide variety of uses. The property represents a unique value-add opportunity with ample upside. Long Beach’s continued strong residential rental metrics, including a 2022 vacancy rate of just 4 percent and year-over-year rent growth of 8.5 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With the property being delivered fully vacant, new ownership could complete a comprehensive renovation of the units, allowing them to achieve significant rental premiums compared to non-renovated units. Additionally, current ownership has invested significant capital into the refurbishment of the showroom space, which offers a plethora of possible user scenarios. 1711 - 1715 East 4th Street benefits from its excellent North Alamitos Beach location, just blocks away from the 4th Street Corridor, also known as Retro Row, providing residents with convenient access to an abundance of unique and vibrant retail, dining,
Location
State CA
County Los Angeles
Area Listing
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 7266020002
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with TylerLeeson