827 E. 4th Street is a seventeen-unit investment asset located on 4th Street / Retro Row, one of the most popular rental markets in Long Beach. A new owner has the opportunity to realize ±34% rental upside potential by renovating the remaining units and bringing in-place rents to market rate. VALUE ADD OPPORTUNITY: The property offers (12) studio units, (4) one-bedroom / one-bath units and (1) penthouse two-bedroom unit with wood beam vaulted ceilings and fireplace. The building features all the charm and character of a 1920's vintage property with hardwood floors, built-ins, casement windows and interior french doors. Two of the of the units have been renovated with modernized kitchens and baths, including stone countertops, custom tile, custom cabinetry and new vanities. HIGHLY SOUGHT-AFTER RENTAL MARKET: The 4th Street / Retro Row neighborhood is one of the most desirable rental markets in Long Beach because of its walkability to a plethora of amenities - the subject property has a Walk Score of 93. Additionally, this neighborhood is minutes to the beach and bike path at Alamitos Beach, as well as trendy cafes, restaurants and boutiques in East Village Arts District and employment opportunities in Downtown Long Beach.
Listing courtesy of Robert Stepp from Keller Williams - Santa Monica
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