229 Granada Ave, Long Beach, CA 90803

Property Description

229 Granada Lofts are the newest complex in Long Beach and a superior example of Class-A coastal modern luxury apartment homes, located in the highly sought-after sub-market of Belmont Shore. 
 
 Each of these five apartment homes boast expansive and open floor-plans, masterfully designed by Grisafe Architects, furnished with lively designer fixtures, an abundance of natural light, and 4 of the 5 units enjoy private outdoor living spaces. 
 
 The impeccably constructed asset offers a truly rare opportunity to acquire an essentially new construction complex, with only 3 exterior walls left untouched, nearly two dozen new structural footings, 2 new garages, a completely new addition of the 3rd Story consisting of 3 Lofts for each of the 2nd Floor Apartments. Additionally, the 100% all new building systems include plumbing, electrical, mechanical (mini-split air conditioning & heating units for each apartment), 2” main water line, fire sprinklers (an added life-safety & insurance benefit), and new individual meters for gas and electric. Other building features include washer & dryers in-unit, LED lighting throughout, fully insulated walls, and energy-star appliances, ensuring the asset will enjoy lower than average maintenance costs for several years. 
 
 The Granada lofts are achieving market setting rents per square foot, with several applications received for each unit, and prime for incremental future face rent and yield growth.