Toby Rodriguez CRE

Please to announce the closing on 11923 Old River School Road, a 15 unit multi family investment sitting in a Prime location in the city of Downey. Built in 1970, this building has a very desirable unit mix of studio, 1, & 2 bedroom units. We secured this property for our client with over 10+ offers.

As we pass through another month living in unprecedented times due to the novel coronavirus, we have started to see a shift in lifestyle preferences. After being sequestered for months, with many people working from home and doing their shopping and schooling online, households are reevaluating their current accommodations. Larger residences with spaces appropriate for home offices and online learning that also have outdoor space to enhance social distancing are gaining favor.
⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
To read the Marcus & Millichap research brief, click here: https://bit.ly/34Q6iLx.

The King Group of Marcus and Millichap is pleased to present a completely remodeled 9-unit apartment building located at 2111 E. Bermuda Street in the Bluff Heights area of Long Beach, California. Built in 1959, the subject property consists of 6,383 rentable square feet spread throughout a 6,506 square foot lot. The unit mix consists of two 2 bedroom / 1 bathroom units and seven 1 bedroom / 1 bathroom units. There are 6 garages for tenants’ convenience and also used to generate income for the owner. It is separately metered for gas and electricity which helps keep expenses to a minimum. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores.
⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
List Price - $3,950,000
Units - 9 Units
Cap Rate - 4.11%
⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
For more information, contact Kevin King at (562) 972 - 1050, or Arnie Suttipreechanun at (562) 303 - 3734.