761 Walnut Avenue is a 4-unit multifamily investment property located in Long Beach, CA. 761 Walnut Avenue features a highly desirable mix of studio, one, and two-bedroom units with a spacious common area backyard and an on-site laundry facility. Each unit features an individual water heater with 50% of them… Read More being brand new. Current ownership has invested significant capital into improvements with select units featuring modern finishes and high-quality upgrades. Additionally, the property features new plumbing and drain lines in 50% of the units, new roofing on the rear building, and brand new subpanels on 75% of the units. Residents of 761 Walnut Avenue enjoy the property’s prime Long Beach location, with an abundance of Long Beach hot spots within a 1-mile radius of the property. The property is situated less than 1 mile to the North of Alamitos Beach, Junipero Beach, and the Shoreline Pedestrian Bike Path, providing residents with easy access to recreational activities. Additionally, the property is situated in close proximity of both Retro Row and the East Village Arts District, two popular Long Beach hubs for boutique retailers as well as unique cafes and restaurants. Furthermore, the property’s close proximity to Downtown Long Beach provides residents with easy access to major local employers. The property’s ideal Long Beach location surrounded by an abundance of recreational, entertainment, and retail amenities are a primary draw for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at 761 Walnut Avenue. Read Less
Property listed by Marcus & Millichap RE Invest, Tyler Leeson 714-713-9086
Listing Snapshot
Days Online
91
Last Updated
Property Type
Apartment
Lot Size
0.12 Acres
Year Built
1924
MLS Number
OC24125800
Additional Details
Building
Built in 1924, Building area total: 3,396, Levels: Two, 2 stories, 2 buildings, Common walls: NoCommonWalls
Community
Curbs, Gutters, Sidewalks
Expenses
Electric expense: $978, Fuel expense: $978, Insurance expense: $2,800, Maintenance expense: $2,600, New taxes expense: $14,931, Operating expense: $27,754, Trash expense: $978, Water sewer expense: $981, Other expense: $3,508
Income
Gross income: $96,960, Net operating income: $66,308
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
