600 Almond Ave Long Beach, CA 90802

This exceptional 6-unit apartment building presents a compelling investment opportunity in Long Beach's desirable North Alamitos Beach neighborhood. The property, located at 600 Almond Ave, boasts a total of 7,387 square feet on a 6,837 square foot lot and features a mix of unit sizes, including a spacious 3-bedroom, 3-bathroom townhouse-style unit ideal for an owner-occupant. The remaining five units consist of four 2-bedroom, 2-bathroom units and one 2-bedroom, 1-bathroom unit. All units have undergone extensive renovations, showcasing condo-style finishes and averaging a sizable 1180 square feet for the 2-bedroom units. The building includes a controlled-access system and four convenient garage parking spaces. Built in 1964, this two-story building offers a strong current NOI of $106,399, with a pro-forma NOI of $116,888, translating to a 4.64% cap rate and a pro-forma cap rate of 5.09%. The asking price is $2,295,000, representing a price per unit of $382,500 and a price per square foot of $310.68. Its prime location offers a Walk Score of 91, providing easy access to shopping, dining, and other amenities along 4th Street/Retro Row. This property represents a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a highly sought-after Long Beach location. The Los Angeles County property features APN 7266-016-008 and is situated in the 90802 zip code.