6.01% current in place cap rate and 10.76 GRM with tons of upside (43% rental upside). Value-Add investors will want to take note of of the ADU opportunity on this asset. RARE 8 parking spaces on this overparked asset. 1132 Arcadia is a perfect asset for a new or experienced investor located at the end of a quiet Culde- sac near the hottest and fastest growing market in LA Counties own in Long Beach. Great unit mix comprised of (2) 2Bed+1Bath and (3) 1Bed+1Bath units, most of which have been lightly renovated in the past 2 years. There are 8 parking spaces on site, adding significant value to the property. Each unit is separately metered for gas and electric. The subject property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, The Pacific and Queen Mary Island.
6.01% current in place cap rate and 10.76 GRM with tons of upside (43% rental upside). Value-Add investors will want to take note of of the ADU opportunity on this asset. RARE 8 parking spaces on this overparked asset. 1132 Arcadia is a perfect asset for a new or experienced investor located at the end of a quiet Culde- sac near the hottest and fastest growing market in LA Counties own in Long Beach. Great unit mix comprised of (2) 2Bed+1Bath and (3) 1Bed+1Bath units, most of which have been lightly renovated in the past 2 years. There are 8 parking spaces on site, adding significant value to the property. Each unit is separately metered for gas and electric. The subject property is located just outside the $6 Billion of new development flooding into Downtown Long Beach, including the Long Beach Civic Center, Aquarium, OceanAire Project, CSULB Downtown Village, Broadway Block, The Pacific and Queen Mary Island.