924-934 Termino Avenue
Property Description
Morgan Skenderian, Inc. is pleased to present this well-maintained 8-unit multifamily property in Long Beach. Consisting exclusively of single-story units, the property features a desirable unit mix, with two of the eight units recently renovated to include updated flooring and fresh interior paint. All units are equipped with ceiling fans, enhancing tenant comfort and appeal. Operational efficiency and long-term durability are supported by key system upgrades, including copper plumbing, updated electrical systems, and new electrical panels. The property also benefits from an on-site laundry facility, two single-car garages and two double-car garages. A unique highlight of the property is a permitted storage area currently generating supplemental income from existing tenants. This space includes a bathroom and is equipped with plumbing, gas, and electrical, presenting an excellent opportunity for potential ADU conversion (buyer to verify), further increasing revenue potential. Additionally, the owner has implemented a RUBS program, creating an additional income stream and helping to offset operating expenses. Overall, this property combines recent upgrades, strong in-place income, and multiple avenues for future growth—making it an attractive addition to any multifamily portfolio.
Broker Details
Morgan Skenderian Investment Real Estate Group (949) 251-8800
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,195,000 |
| No. of Units: | 8 |
| Year Built: | 1950 |
| Lot Size: | 0.18 Acres |
| Opportunity Zone: | No |
| Price per unit: | $274,375 |
| Property Website | Click Here |
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