We are pleased to present an attractive 23 unit apartment building located in the beautiful area of Naples Island in Long Beach, CA. The subject property is situated less than one block from the ocean and walking distance to restaurants, shops, entertainment and retail stores on 2nd Street. This property contains (22) Studio / one-bathroom units and (1) one-bedroom /one bathroom unit. Built in 1947, the subject property was completely renovated inside and out in 2016. Exterior upgrades includes new windows, paint, full replacement of iron railings, wood structure upgrades, recent termite fumigation and redesign of all stonework. The property uses Solar Panels to drastically reduce the overall utility cost to the owner. Paid utilities are highly sought after on the rental market. Having a solar panel installation allows the building to offer all utilities paid as an incentive and a marketing differentiator while continuing to maintain lower than market utility costs. Interior upgrades include stone-counter tops, cabinetry, hardwood floors and new appliances. Nearby restaurants include Michael's, Chianina Steakhouse, Roe Seafood, Nico's, Riley's and Brix at the Shore. The location is very bikeable as biking is convenient for most trips.
Listing provided courtesy of
, Marcus & Millichap
Additional Property Details
Gross Operating Income
A sprawling beach city with an urban vibe and a host of micro neighborhoods, Long Beach takes its place amongst one of Southern California’s best-kept secrets. The city has a vibrant culture and distinct lifestyle that are uniquely its own. . A timeless attraction amongst both Angelenos and visitors alike, Long Beach is home to year-round events like the Long Beach Grand Prix and boasts the famed Queen Mary in its harbor. Appealing to buyers both young and old, the city offers a solid sense of community, a commitment to living one’s best life and features a wide-range of highly-coveted real estate by the beach.
Real Estate: Long Beach features a myriad of home styles, inclusive of quaint beach cottages, Spanish bungalows, striking Craftsmans and overtly modern high-rise condos with exceptional views. Each style has its place within Long Beach as the inhabitants are as diverse as the living options. The city is growing vertically and the landscape of Downtown Long Beach is changing rapidly with the addition of many new high-rise developments that feature state-of-the-art amenities.
Community Life: Once named amongst the fittest cities in America, Long Beach is an ideal location those seeking an active lifestyle. With a host of outdoor sports and activities, many enjoy yoga on the bluff, biking along the beach, SUP, indoor cycling and more. Long Beach is a city with a small town feel where people stroll amongst popular spots like Second and Fourth Street, both of which showcase an array of local restaurants and shops. The city remains busy with constant festivals, community gardens, farmer’s markets and Long Beach-centric events, making it a great locale for young couples, older individuals and those with families. It’s also dog-friendly, boasting the popular Rosie’s Dog Beach.
Education: Most people are well aware of Cal State Long Beach, as it remains one of the area’s biggest draws. Beyond that, however, it is served by the Long Beach Unified School District that includes Wilson High School, Millikan High School, Lowell Elementary School, Naples Elementary School, Bixby Elementary School, Cubberly, Rogers Middle School, Jefferson Leadership Academies and many more.
Transportation: Traveling around Long Beach is effortless. The city itself is easily reached by the 710, 405 and 22 Freeways and, once in Long Beach, options range from Long Beach Public Transit, which journeys throughout the city, or people can join the Long Beach Bike program and pedal to their destination. The city also has a MetroLink station downtown, which heads to most major stops in and around Los Angeles.
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