440 West 5th Street, a 21-unit* apartment building in downtown Long Beach, California. Downtown Long Beach has been rapidly redeveloping in recent years, thanks to hundreds of millions of dollars worth of public and private investment. The property is well-located within walking distance of the numerous popular dining, retail and entertainment opportunities available downtown and conveniently near the 710 Freeway. The offering is a four-story, 1987 construction apartment building with gated parking on the ground floor and nine one-bedroom and 12 two-bedroom units on the top three floors. Recent upgrades include new hardwood-style flooring, new kitchen hardware and new bathroom fixtures. Amenities include fireplaces, in-unit laundry hookups, dishwashers, balconies, bedroom ceiling fans, and secure parking. The property also features a new rooftop deck with amazing views for tenants’ enjoyment. These amenities make 440 West 5th Street competitive in such a dense rental market, and the property’s good location and desirable unit mix make this offering an excellent opportunity for an investor to add value and capture substantial potential upside in rents.
Listing courtesy of Steven Bogoyevac from Steven M. Bogoyevac, Broker
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