328 W 8th Street

About This Property

PRICE REDUCED AND READY TO SELL AT 9.4 GRM with rental upside. Earn over an 8% cash on cash return against in place rents. 8 units (all studios) in Long Beach NOT subject to local rent control, only subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). NO Local Rent Control in Long Beach. Located on a beautiful, quiet, tree lined street just blocks from Downtown Long Beach. All units have been updated including new kitchens, baths and paint. Electrical subpanels were updated in 2024. The main panel is 200 AMPS (Buyer to verify). The property is professionally managed and well maintained. All units have W/Ds in them. Upside in rents to a 9.0 GRM. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. Qualified Buyers can put down as little as 25% with excellent bank financing fixed at 5.4% for 5-years.

Neighborhood

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Listing courtesy of The Agency

Listing data from CRMLS. Deemed reliable but not guaranteed.