1015 20Th StLong Beach, CA 90806

This exceptional investment opportunity presents a four-unit apartment building situated at 1015 E 20th St, Long Beach, CA 90806. Built in 1985, this two-story building boasts 4,966 square feet of net rentable space, currently generating a NOI of $76,072, representing a 5.07% cap rate. A pro-forma NOI of $110,005 projects a 7.33% cap rate, indicating significant upside potential. The property is zoned LBR1N and features a mix of spacious two and three-bedroom units, each offering comfortable living spaces. Priced at $1,500,000 ($375,000 per unit), this represents a compelling value in the thriving Long Beach rental market. The property includes ample gated parking. The building's location provides convenient access to major freeways, shopping, dining, and local amenities, making it highly attractive to renters. Further enhancing its appeal, the property offers potential for the addition of an Accessory Dwelling Unit (ADU), presenting an avenue for increased revenue and return on investment. This property is ideal for investors seeking immediate cash flow and long-term growth, particularly those considering a 1031 exchange. The property's strong fundamentals and location within a robust rental market make it a truly exceptional investment opportunity. The Los Angeles County Assessor's Parcel Number (APN) is 7210-021-013.