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4014 Long Beach Blvd

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Address: 4014 Long Beach Blvd, Long Beach, CA 90807, USA

California & West + Apartment Buildings

Created date: February 1, 2024

Date last updated: September 20, 2024

Property Description

INVESTMENT SUMMARYThis is an incredibly unique opportunity for an owner-user to purchase well below replacement cost OR for an investor with a going in cap-rate of nearly 7.5% with the Seller leasing their space back.4014 Long Beach Blvd - A three-story class B office building in the vibrant Bixby Knolls neighborhood of Long Beach, CA. The property is comprised of three individual floors, each approximately 4,000 sqft, stacked on top of each other. Floor one has been recently remodeled and can be delivered vacant for an owner-user or can be rented in escrow for an investor. The Seller occupies the entire third floor (suites 300 and 310) and are willing to do a lease back for market rents at closing if the Buyer so chooses. They are also willing to vacate for an owner user if the user prefers to occupy the third floor.There are 31 on-site parking spaces, 14 covered under the building and 17 surface spaces in the rear. This is an extremely well-maintained asset who's electrical, plumbing, phone lines, and interiors were all new as of 2005. Most recently suite 100 has been fully remodeled and the HVAC units have been replaced within the past four years. Current ownership believes they've spent approximately $400K since 2016 in general improvements of the building (buyer to verify).
INVESTMENT HIGHLIGHTSSeller willing to lease back at market rents generating a going in cap rate of nearly 7.50%As of 2005, all new plumbing, electrical, phone lines, DSL lines and interiorsNew HVAC units within the last 4 yearsFlexible Floor Plates allow for +/- 4,000 sqft suites or split into (2) individual +/-2,000 sqft suites.Avg. Household Income more than $112K within a 1-mile radiusPopulation density of 207K+ residents within a 3-mile radiusTraffic Counts – 33,500 Vehicles Per DayAmple On-Site Parking - 31 Total Parking Spaces

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$2,995,000
Average Occupancy:	7.44%
Lot Size:	12,710.00 Sq ft
Opportunity Zone:	No
Property Website	Click Here