$3,725,000
$4,080,000
8.7%For more information regarding the value of a property, please contact us for a free consultation.
2260 Santa Fe Avenue Long Beach, CA 90810
12,500 SqFt
Key Details
Sold Price $3,725,000
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Sold
Purchase Type For Sale
Square Footage 12,500 sqft
Price per Sqft $298
MLS Listing ID CRSB24141062
Sold Date 12/24/24
HOA Y/N No
Year Built 1950
Lot Size 0.734 Acres
Acres 0.73
Property Description
HIGH YIELD - 8% CASH-ON-CASH RETURN w/ FINANCING AVAILABLE AT JUST 25% DOWN!!!!! pleased to present the opportunity to acquire 2260 Santa Fe Avenue and 2261 Adriatic Avenue, an investment property located in the vibrant Westside Long Beach submarket. These two adjacent parcels are situated in a high-demand area, offering a unique mix of unit configurations and robust investment potential. The properties are strategically positioned to benefit from Long Beach's ongoing urban development and revitalization efforts, providing residents with easy access to transportation, employment hubs, and diverse retail and entertainment options. 2260 Santa Fe Avenue is comprised of thirty-one (31) studio units and one (1) one-bedroom/one-bath unit, while 2261 Adriatic Avenue features two (2) standalone three-bedroom/one-bath units. Together, these properties include a total of 34 units, 16 uncovered parking spaces, and a coin-operated laundry facility, enhancing tenant convenience and income potential. The Santa Fe Avenue property currently operates as an apartment building and has for many years, per the Seller.  A site plan has received approval with conditions from the City of Long Beach for legalization of an unpermitted conversion of a senior group residence into apartments. The buyer ha
Location
State CA
County Los Angeles
Area Listing
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 7401031002
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Bought with BretLewis