3.47% Assumable Financing Available | 2325 E 2nd St
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3.47% Assumable Financing Available 2325 E 2nd St
11 Unit Apartment Building $2,950,000 ($268,182/Unit) 5.36% Cap Rate Long Beach, CA 90803
Investment Highlights
- 3.47% Financing Available
- 6 Units Renovated with In-Unit Washer/Dryers
- 4 Garages - Permitted for 2 ADUs
- Prime Bluff Park Location
- Double-Pane Windows, Upgraded Electrical
Executive Summary
2325 E. 2nd Street is an 11-unit apartment asset located in Prime Bluff Park, Long Beach. The property is offered at 11.9 GRM and 5.36% cap rate on current rents. Assumable financing is available at 3.47% until October 1, 2026
The building in the front of the property was built in 1923, and offers (4) 1BD/1BA units. The building in the rear of the property was built in 1964, and offers (4) 1BD/1BA units; (1) 2BD/1BA unit; and (2) studio units. One of the studio units is non-conforming.
Six (6) of the units have been renovated and feature in-unit washer/dryers. Building improvements include double-pane windows and upgraded electrical. On-site laundry provides current income. Four (4) garages also provide income and are permitted for (2) ADUs.
2325 E. 2nd Street is located in the desirable Bluff Park neighborhood with convenient access to the beach and all the best of coastal living.
The building in the front of the property was built in 1923, and offers (4) 1BD/1BA units. The building in the rear of the property was built in 1964, and offers (4) 1BD/1BA units; (1) 2BD/1BA unit; and (2) studio units. One of the studio units is non-conforming.
Six (6) of the units have been renovated and feature in-unit washer/dryers. Building improvements include double-pane windows and upgraded electrical. On-site laundry provides current income. Four (4) garages also provide income and are permitted for (2) ADUs.
2325 E. 2nd Street is located in the desirable Bluff Park neighborhood with convenient access to the beach and all the best of coastal living.
Property Facts
| Price | $2,950,000 | Apartment Style | Low Rise |
| Price Per Unit | $268,182 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 5.36% | Building Size | 7,052 SF |
| Gross Rent Multiplier | 11.96 | No. Stories | 2 |
| No. Units | 11 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 0.8/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,950,000 |
| Price Per Unit | $268,182 |
| Sale Type | Investment |
| Cap Rate | 5.36% |
| Gross Rent Multiplier | 11.96 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 7,052 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.8/1,000 SF |
Unit Amenities
- Kitchen
- Oven
- Range
- Tub/Shower
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 1+1 | 8 | - | - |
| Studios | 2 | - | - |
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Walk Score ®
Walker's Paradise (93)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 7264-029-006 | Improvements Assessment | $736,424 |
| Land Assessment | $1,649,595 | Total Assessment | $2,386,019 |
PROPERTY TAXES
Parcel Number
7264-029-006
Land Assessment
$1,649,595
Improvements Assessment
$736,424
Total Assessment
$2,386,019
zoning
| Zoning Code | RR3S |
| RR3S |
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3.47% Assumable Financing Available | 2325 E 2nd St
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