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1/07/21
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In a recent multifamily comp out of Long Beach, a 13-unit property traded for $3.6 mil, or $277k per unit. Built in 1962, the property is located at 4500 N. Lakewood Blvd, south of Del Amo Blvd.
The property contains 7.7k sf of space and sits on a 7.3k sf lot. The unit mix consists of 10 one-bedroom/one-bath units and three two-bedroom/one-bath units. The property has a pitched roof and contains nine garages.
Ownership benefits from high demand for rentals in a SoCal coastal city. Tenants enjoy living between Bixby Knolls and Lakewood where there are many shops, restaurants, cafes, entertainment venues and grocery stores.
Kyle R. Blair and Kevin J. King with out of Marcus & Millichap’s Long Beach office represented the seller, a private investor.
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