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1721 E Appleton St

12 Unit Apartment Building $3,250,000 ($270,833/Unit) 4.43% Cap Rate Long Beach, CA 90802

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Investment Highlights

First time on market in 50 years – Pride of Ownership Immaculately Maintained
Mix of One and Two Bedrooms
Individually Metered For Gas & Electric

Alamitos Beach Neighborhood – Near Bixby Park
Cpoper Plumbing, Newer Windows
Six (6) Enclosed Garages, Laundry Room

Executive Summary

We are proud to present 1721 East Appleton, a 12-unit apartment building located in the sought-after Alamitos Beach of Long Beach near Bixby Park. This value add property is immaculately maintained and has approximately 33% in rental upside. This property offers a unit mix of (10) ten one-bedrooms and (2) two two-bedrooms. Pride of ownership offering a well-maintained property for new ownership. Recent renovations include copper plumbing and windows throughout. The property offers convenient laundry facility on site. The units themselves are well-appointed with gas cooking, electric heating, hardwood floors, and ceiling fans, and wall heaters ensuring a comfortable living environment. The building has a historically high tenant retention rate, due to its location in highly desirable North Alamitos Beach.

Property Facts

Price	$3,250,000	Apartment Style	Low Rise
Price Per Unit	$270,833	Building Class	C
Sale Type	Investment	Lot Size	0.19 AC
Cap Rate	4.43%	Building Size	8,946 SF
Gross Rent Multiplier	13.71	No. Stories	2
No. Units	12	Year Built	1957
Property Type	Multifamily	Parking Ratio	0.67/1,000 SF
Property Subtype	Apartment

Price	$3,250,000
Price Per Unit	$270,833
Sale Type	Investment
Cap Rate	4.43%
Gross Rent Multiplier	13.71
No. Units	12
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.19 AC
Building Size	8,946 SF
No. Stories	2
Year Built	1957
Parking Ratio	0.67/1,000 SF