1135 E 12th St, Long Beach, CA 90813

Property Description

We are pleased to present to market 1135 East 12th Street, a 12-unit apartment building in Long Beach, California. This offering presents a great opportunity for an investor to acquire a partially renovated asset with solid in-place cash flow and potential upside in a strong rental market. 
 
 The property consists of a 1916 construction building with 12 one-bedroom units that range from 300 to 428 square feet. Eight units have been renovated, another unit has new flooring, and all units have security gates,. The property also features on-site laundry and nine parking spaces plus two motorcycle spaces.
 
 In addition to the renovated units, 1135 East 12th Street boasts numerous other recent improvements, including: a new roof that was installed in November 2018, a gas barbecue, earthquake bolt down and auto gas shut off, and a new valve set in the front yard that is ready for a drought-tolerant irrigation setup. As a result of the units’ smaller sizes, a new investor may enjoy low recurring utility expenses and low turnover costs. 
 
 The property is located near the intersection of Alamitos Avenue and Anaheim Street, across from Grant Church, and just steps from Lincoln Elementary School. The property’s location conveniently near dining, retail and grocery options have earned it a great WalkScore of 89. This area is a strong rental market where over 85 percent of housing units within one mile are renter-occupied.