We are pleased to present a 24-unit multifamily community located in the thriving East Village area of Downtown. Built in 1912, the property has approximately 11,838 rentable square feet and a lot size of 7,531 square feet. Downtown Long Beach is experiencing significant redevelopment and the subject property is situated at the center of the revitalization. The Area is considered the epicenter of the local arts and cultural scene in the city. This area is the hub of tourism, business and transit that is Downtown Long Beach. Long Beach continues to progress and currently there is $2.2 billion of new construction underway. An example of this large scale redevelopment is the Long Beach Civic Center, which is estimated to be completed early 2019. The Civic Center will include a new city hall and the Port of Long Beach headquarters, as well as multifamily residential units. Long Beach sustains its ability to attract renters due to its strong economy and high quality of life. This is a rare opportunity to acquire a quality, pride-of ownership asset in this outstanding rental market and would make a great addition to any investors portfolio.
|--||New Value: $5,700,000|
|1/8/2019 4:48:00 PM|