1015 20Th StLong Beach, CA 90806

Property Details for 1015 20Th St

Year built

1985

Construction

WOOD

Lot size

0.16 AC

Property size (Sq ft)

4,966 SF

Zone code

LBR1N

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

7210-021-013

APU

7210021013

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,517,284

  6.5%

  $1,400,570

  7%

  $1,300,529

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,455,285

  Geo Method

  $2,455,285

• Alternative Use

  Use

  Valuation

  Residential

  $1,400,570

  Hospitality

  $1,282,914

  Educational

  $1,067,370

  Medical

  $1,104,078

  Retail

  $1,660,352

Location Insight

City

Long Beach

County

Los Angeles

State

California

Latitude

33.7938

Longitude

-118.18

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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