1001 20Th St Long Beach, CA 90806

This exceptional investment opportunity presents a six-unit apartment building situated at 1001 E 20th St, Long Beach, CA 90806. The property boasts a total net rentable area of 4,675 square feet, spread across a 4,236 square foot lot. Built in 1924, this two-story building features a mix of unit sizes, including two one-bedroom, one-bathroom units and four two-bedroom, one-bathroom units. The asking price is $1,500,000, translating to $250,000 per unit. The property currently generates a Net Operating Income (NOI) of $93,949, resulting in a 6.26% capitalization rate. Pro-forma projections indicate a potential NOI of $109,486 and a 7.30% cap rate, showcasing significant upside potential. The property is zoned LBR1N and features one building with ample gated parking. This property is ideal for investors seeking immediate cash flow and long-term appreciation in a thriving Long Beach rental market. Its convenient location offers easy access to major freeways, shopping, dining, and local amenities. The property's strong financials and potential for increased revenue make it a compelling investment opportunity for both experienced investors and those looking to execute a 1031 exchange. The property's location in Los Angeles County is further enhanced by its proximity to various attractions and conveniences.