791 Coronado Ave

• Attractive Mix of One & Two-Bedroom Floor Plans
• Select Units Feature Fireplaces, Upgraded Flooring & Stainless Steel Appliances
• Four Garage Parking Spaces | ADU Potential - One 850 Sqft. 2 Bed / 2 Bath Unit
• Assumable Financing at 4.19%
• Stable In-Place Rents Close to Market Rates
• Property Was Repiped in 2010
• In Close Proximity of Willard Elementary, Jefferson Middle, & Woodrow Wilson High School
• Within Walking Distance of Rose Park
• Easy Access to Retailers Along Redondo Avenue
• Central Long Beach Location Provides Easy Access to Retro Row, Recreation Park, & Belmont Shore / 2nd Street Corridor

Property Description

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 791 Coronado Avenue, a 7-unit multifamily investment property located in the Rose Park neighborhood of Long Beach, CA. This property offers an attractive mix consisting of spacious 2, one-bedroom units and 5, two-bedroom units. Three corner units feature extra large floorplans that include fireplaces. Almost all units include a breakfast bar, walk-in closets, and one unit has an expansive balcony. Ownership has strategically landscaped 791 Coronado Avenue to offer it’s residents a chic, tropical oasis like feel. All of the units feature granite or quartz countertops, and select units offer upgraded flooring and stainless steel appliances. In addition, the property offers upgraded plumbing, and features solar panels. Ownership will have upgraded all electrical panels by close of escrow. Please inquire with listing agent for more information. 791 Coronado features four single-car garages and an on-site laundry room, providing additional income opportunities. An investor can have the opportunity to convert the existing garages into one 850 square foot Accessory Dwelling Unit (ADU). A majority of the units are currently eligible for the maximum allowable rent increase by the close of escrow. We believe a new owner will have the opportunity to achieve further rental upside through the modernizing the apartment interiors. This will elevate 791 Coronado Avenue to a higher standard of rental living and yield investors a substantial monthly rental premium. 791 Coronado Avenue offers assumable financing, at an attractive rate of 4.19%. The existing balance is just under $650,000 (30% LTV). Please inquire through the listing agent for more information. 791 Coronado Avenue is in close proximity to all levels of schooling including Willard Elementary, Jefferson Middle, and Woodrow Wilson High. Additionally, the property benefits from its central Long Beach location, providing residents convenient access to a plethora of retail, dining, and entertainment options.