This building, built in 1964 is located in a great Eastside area of Long Beach. Strong renal demand. The building consists of two 1 bdrm/1 bath, four 2 bdrm/1 bath, one 2 bdrm/2 bath, and one 3 bdrm/2 bath units. Current rent is $15,940 (including $425 for garages and parking place). That is a GRM of 11.8 x Actual rents. With delivered rent increases starting 8/1/24 and 9/1/24, scheduled rents will increase to $15,940 per month. This will decrease the GRM to 11.3 x Actual. Market rents are $18,590 per month. This would decrease the GRM to 10.0 x Market Rents.

******PLEASE NOTE! WE BELIEVE THIS IS A PERFECT BUILDING TO ADD TWO TO THREE ADU’s! CHECK WITH YOUR CONTRACTOR.*******

*****NOTE-ADDRESS ON BUILDING IS 759 FREEMAN AVE.*******