$2,900,000

With strong rents in place, this asset is an ideal acquisition opportunity for an investor looking for cash flow in a dense coastal rental market. Assumable financing is available. 716 Raymond Avenue is a 1923 construction with 14 studios and two one-bedroom/one-bath units. Most units have single-story floor plans, and all are separately metered for gas and electricity. The building features on-site laundry and six single-car garages; both amenities generate additional income. The property has been well-maintained, and the electrical has been recently updated. In-place rents are strong and offer four percent potential upside. Additionally, a new investor may want to explore the potential to convert the garages to ADU’s (buyer to verify). 716 Raymond Avenue is well-located in Eastside Long Beach’s Rose Park neighborhood near the intersection of 7th Street and Junipero Avenue. Tenants enjoy convenient proximity to Junipero Beach (a four-minute drive) and easy access to retail. This property is offered as part of a portfolio along with 1043 and 1048 Coronado Avenue; 716 Raymond may be acquired separately.

Listing Map