We are pleased to present a 14 unit apartment building located at 532 Nebraska Avenue in Long Beach, California. This is a value-add opportunity in a great location of Alamitos Beach. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists of 5,565 rentable square feet spread throughout a 6,745 square foot lot. It was built in 1984 and consists of all one bedroom / one bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 9 parking spaces which are able to generate income as well.Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. There has been over $2B invested in real estate transactions and new development projects since 2013. There are 3,997 residential units in the development pipeline. Notable completed projects near the subject property include the Shoreline Gateway at 777 E. Ocean Blvd. which is 35 stories high with 315 residential units and 6,700 sq. ft. of restaurant and retail space, the Ocean View Tower at 200 W. Ocean Blvd has 142 units with 4,100 sq. ft. of commercial space, and Volta on Pine at 635 Pine Ave. has 271 units with 1,302 sq. ft. of retail and commercial space. Currently under construction is the renovation at the Breakers Hotel at 210 E. Ocean Blvd, Broadway Block at 330 & 333 E. Broadway which is 432 units and over 17,793 sq. ft. of retail space, Aster at 250 E. Broadway with 218 units and 7,300 sq. ft. of commercial space, as well as the Broadstone Promenade which is 189 units with ground floor retail space as well.
DAYS ON MARKET
|
14
|
LAST UPDATED
|
4/17/2024
|
TRACT
|
Alamitos Beach (AB)
|
YEAR BUILT
|
1984
|
COMMUNITY
|
Downtown Area, Alamitos Beach
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
AREA |
Downtown Area, Alamitos Beach |
BUYER'S BROKERAGE COMPENSATION |
2.000 % |
LOT |
6745 sq ft |
LOT DESCRIPTION |
11-15 Units/Acre |
POOL DESCRIPTION |
None |
SEWER |
Public Sewer |
STORIES |
1 |
SUBDIVISION |
Alamitos Beach (AB) |
WATER |
Public |
ZONING |
LBR3T |
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Listed with Marcus & Millichap
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/1/24 1:28 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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