Property Detail

Description

On behalf of the ownership, we are pleased to exclusively offer this 8-unit multifamily asset totaling 5,676 square feet at 520 Ohio Avenue, Long Beach, CA. The property benefits from strong occupancy, a desirable unit mix, and a location that consistently attracts quality residents. Constructed in 1971 on a 6,754 sq ft lot, the property features a beautifully landscaped front exterior and a community laundry room. The unit mix consists of two 2bed 1.75bath units, two 2 bed 1 bath units, and four 1bed 1 bath units, all of which have been previously remodeled. The community also offers off-street parking for up to 15 vehicles, which is a rarity in the area. Not only does this benefit the residents who commute throughout Los Angeles & Orange County, ownership benefits from the additional income and potential upsides. 520 Ohio Avenue is positioned within one of Long Beach's most sought-after residential neighborhoods. The area is characterized by strong renter demand driven by it's proximity to Retro Row or the 4th Street Corridor - which offers diverse and unique dining and shopping options, a weekly Farmer's Market, and entertainment venues such as the historic Art Theatre. With its desirable location, strong occupancy, and meaningful upside potential, 520 Ohio Ave is a compelling investment for groups targeting multifamily assets with both current yield and value creation opportunities.