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Listed by Jonathan Swire of The Agency
2 adjacent buildings located in Alamitos Beach, Long Beach, totaling 32 units. 725 & 745 Orange - TO BE SOLD TOGETHER. Subject to AB 1482 rent control (max annual increase of CPI + 5%).The buildings feature a great unit mix for the area consisting of 22 1+1's and 10 2+1's. The property also features a ton of onsite parking (40 spaces total) which is an anomaly for the area. Onsite laundry is available as well. The property is priced at a 11.4X GRM (5.6% CAP) against in place rents. The property is professionally managed and well maintained and they are separately metered for gas and electric. There are 40 parking spaces (garages/surface) that could be repurposed into 8 ADU's total - Buyer to verify. The property is located just minutes from Downtown Long Beach where over $8BB of redevelopment is occurring. It is also a few minutes drive from the beach as well as Pikes Place featuring shopping and restaurants. For more information on the local area and all the redevelopment occurring, visit - https://la.urbanize.city/neighborhood/long-beach. EMAIL LISTING AGENT FOR AN OM INCLUDING A RENT ROLL AND ACTUAL EXPENSES.

Property Details of 725 Orange Avenue

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Based on information submitted to CRMLS as of February 23, 2024 6:58 PM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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