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1225 Bennett Ave
Long Beach, CA 90804
Park View Villas · Multifamily Property For Sale
·
17 Units
Investment Highlights
- Well-Maintained 17-Unit Apartment Building Built in 1987
- 16,503 SF 3-Story Building on Large 12,065 SF Lot
- Parking Garage With 32 Spaces | (2) Shared Laundry Rooms
- Great Unit Mix - (4) 2-Bed/2-Bath Units, (11) Townhome Style 2-Bed/2.5-Bath, (2) Studio Lofts
- Proforma 7% CAP with 60% Upside in Rents | $302K/Unit | $312/SF
- Located in Sought-After East-Side Neighborhood, Adjacent to Rec Park Golf Course
Executive Summary
1225 Bennett Avenue presents a rare opportunity to acquire a well-maintained 17-unit apartment building in a prime East Long Beach location. Built in 1987 and situated on a sizable 12,065 SF lot, this 16,503 SF, three-story property offers a highly desirable unit mix and significant rental upside in one of the strongest rental submarkets in the area.
The building features (4) 2-bedroom, 2-bath units, (11) townhome-style 2-bedroom, 2.5-bath units, and (2) studio lofts—designed to attract a diverse tenant base seeking spacious, functional living space. With a current CAP rate of 3.73% and a projected proforma CAP of 7.00%, the property offers approximately 60% upside in rents, making it a compelling value-add opportunity for investors.
On-site amenities include a parking garage with 32 spaces and (2) shared laundry rooms. Priced at $302K per unit and $312 per square foot, the asset is competitively positioned within the market.
Ideally located in East Long Beach, the property is just blocks from Recreation Park Golf Course and less than two miles from the Long Beach Traffic Circle—home to some of the city’s best retail, dining, and entertainment.
Whether you're looking to stabilize a well-located asset or reposition it for stronger returns, 1225 Bennett Avenue offers a rare chance to invest in a quality multifamily property with built-in upside.
The building features (4) 2-bedroom, 2-bath units, (11) townhome-style 2-bedroom, 2.5-bath units, and (2) studio lofts—designed to attract a diverse tenant base seeking spacious, functional living space. With a current CAP rate of 3.73% and a projected proforma CAP of 7.00%, the property offers approximately 60% upside in rents, making it a compelling value-add opportunity for investors.
On-site amenities include a parking garage with 32 spaces and (2) shared laundry rooms. Priced at $302K per unit and $312 per square foot, the asset is competitively positioned within the market.
Ideally located in East Long Beach, the property is just blocks from Recreation Park Golf Course and less than two miles from the Long Beach Traffic Circle—home to some of the city’s best retail, dining, and entertainment.
Whether you're looking to stabilize a well-located asset or reposition it for stronger returns, 1225 Bennett Avenue offers a rare chance to invest in a quality multifamily property with built-in upside.
Property Facts In Escrow
| Price Per Unit | $411,394 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 3.73% | Lot Size | 0.28 AC |
| Gross Rent Multiplier | 14.7 | Building Size | 16,503 SF |
| No. Units | 17 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 1.03/1,000 SF |
| Zoning | CCN, Long Beach - Commercial | ||
| Price Per Unit | $411,394 CAD |
| Sale Type | Investment |
| Cap Rate | 3.73% |
| Gross Rent Multiplier | 14.7 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 16,503 SF |
| No. Stories | 3 |
| Year Built | 1987 |
| Parking Ratio | 1.03/1,000 SF |
| Zoning | CCN, Long Beach - Commercial |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 11 | $2,294 CAD | - |
| 2+2 | 4 | $2,706 CAD | - |
| 1+1 | 2 | $1,589 CAD | - |
Property Taxes
| Parcel Number | 7241-008-002 | Improvements Assessment | $2,698,308 CAD |
| Land Assessment | $361,096 CAD | Total Assessment | $3,059,404 CAD |
Property Taxes
Parcel Number
7241-008-002
Land Assessment
$361,096 CAD
Improvements Assessment
$2,698,308 CAD
Total Assessment
$3,059,404 CAD
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