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561 E 64th St
Long Beach, CA 90805 Bixby Knolls

$2,825,000 USD

Apartments For Sale  •  9,964 SF

Property Details

• Property Type Apartments
• Total Building Size 9,964 SF
• Lot Size 0.33 AC
• Building Class C
• Year Built 1960
• Zoning R4R, Long Beach

47 Transit Score

74 Walk Score

Highlights

Strong in place income at a 6.18% cap rate and a 9.19 GRM

Low basis for an investor – $176k per unit and $283 per square foot

18% upside in rents to market rate

Separately metered for gas and electricity

Under a $1,000,000 down payment required- great opportunity for a 1031 exchange buyer or smaller operator

Property has been extensively replumbed with pex and copper

Amenities

• Laundry Facilities

Public Transportation

Airport	Drive	Walk	Distance
Long Beach (Daugherty Field)	12 min	-	5.1 mi
Los Angeles International	27 min	-	17.9 mi
John Wayne/Orange County	36 min	-	27.8 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	16
Type:	Covered
Included in Rent:	Yes