2521 7Th StLong Beach, CA 90804

This exceptional investment opportunity presents a 10-unit apartment building located at 2521 East 7th Street, Long Beach, California, 90804. The property, built in 1963, offers 9,358 square feet on a 7,322 square foot lot and features a mix of one, two, and three-bedroom units. The asking price is $2,500,000, translating to $250,000 per unit and $267.15 per square foot. The building boasts newer windows, electrical panels, and railings, adding to its appeal. Currently generating a NOI of $93,659 and a 3.75% cap rate, the property presents significant value-add potential. Pro forma projections indicate a NOI of $233,747 and a 9.35% cap rate, representing a substantial increase in profitability. The property includes five parking spaces. This fee-simple ownership opportunity is situated in Los Angeles County and offers a compelling return on investment for a savvy buyer. The motivated seller makes this a particularly attractive prospect for long-term ownership. The property's strong unit mix, combined with the potential for significant rental upside, makes this a rare find in the Long Beach market.