2212 E 15th ST, Long Beach, CA 90804
2212 E 15th ST, Long Beach, CA 90804
2212 E 15th ST, Long Beach, CA 90804
2212 E 15th ST, Long Beach, CA 90804
2212 E 15th ST, Long Beach, CA 90804
2212 E 15th ST, Long Beach, CA 90804
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The Brandon Drew Group

The Brandon Drew Group

+1(909) 944-8800
$ 1,775,000
Est. payment | /mo

16 Beds

8 Baths

5,254 SqFt

Save
$ 1,775,000
Est. payment | /mo
Save

16 Beds

8 Baths

5,254 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,254 sqft

Price per Sqft $337

MLS Listing ID 26104748

Bedrooms 16

HOA Y/N No

Year Built 1960

Lot Size 6,516 Sqft

Property Description

2212 E 15th St | 8-Unit Multifamily Investment, Long Beach. This 1960-built asset totals 5,256 SF on an 8,409 SF lot in Eastside Long Beach, between the Cherry Avenue corridor and Zaferia. It sits a few blocks north of Anaheim Street's restaurants and coffee shops and just south of Pacific Coast Highway retail and bus lines. The property features (8) 2BR/1BA units averaging 657 SF across a front and back building, with eight on-site parking spaces at a 1:1 ratio. Six of eight units are occupied at an average rent of $1,962, four of them already at the $1,995 market rent, and Units 1 and 2 are delivered vacant. Offered at $1,775,000 ($221,875/unit | $337.71/SF) with a 7.13% cap rate on scheduled rents and a 9.39 GRM, the real story is yield a 7%+ cap at a sub-$225K basis, with two units the buyer can lease or renovate on their own terms from close.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Driveway Down Slope From Street

Total Parking Spaces 8

Building

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 7260015003

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040

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Why The Brandon Drew Group?

THIS IS OUR PURPOSE .
 
Named for our son. Built for your family. The Brandon Drew Group is a family-run mortgage firm in Rancho Cucamonga, California, named in memory of Robert and Colleen Olivas's son Brandon Drew. What started as a way to honor him became a calling — to make sure every family who walks through our door is treated with the same patience, honesty, and care we wish for our own. The story behind the name →

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2212 E 15th ST