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List Price - $3,450,000 Cap Rate - 5.14% Price Per Unit - $431,250 Price Per Square Foot - $514.77 Marcus & Millichap is pleased to present an eight unit multifamily asset located at 2930 E 5th Street in Long Beach, California. Built in 1963, the subject property consists of 6,702 rentable square feet spread throughout a 0.15 acre lot. The building consists of seven 2-Bedroom / 1- Bathroom units and one 3- Bedroom/ 2-Bathroom unit. Owners enjoy the high demand for rentals in a coastal city of Southern California. Located just off the retro row corridor of 4th street, 2930 E 5th is considered a “walker’s paradise” with a “walk score” of 91, ideal for tenants who can easily get to restaurants, shopping, entertainment, and schools by foot. Tenants are also easily able to commute to large employment centers like Downtown Long Beach and CSULB, both just a few miles away. In addition, all of the eight units have been extensively renovated, including, but not limited to, new flooring, new cabinets, new fixtures, new electrical subpanels, and new paint. Those units are achieving top of market rents, demonstrating the viability of this asset in a prime Belmont Heights location. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a great location with strong current income that will provide a stable return. For more information on this listing, please contact Ryan Gonzalez at (562) 257-1304 or Kevin King at (562) 972-1050. For more information on the property: https://buff.ly/433VFRH. #thekinggroup #marcusmillichap #longbeach #downtownlongbeach #CSULB #BelmontHeights #SouthernCalifornia #SoCal #LongBeachCivicCenter #PortofLongBeach #QueenMary #multifamily #apartments #rentals #renovated #walkersparadise #retrorow

Property Development News Around San Diego: Original plans for the Bosa high-rise near Symphony Towers were for roughly 400 apartments, but recent plans have switched it to condos. Bosa Development submitted plans this week to change the 40-story apartment building into a 389-unit condominium tower. The condos will have 1, 2, & 3 bedroom units, 9400 sq ft of retail space, and 4 levels of underground parking. Bemi Jauhal, a vice president at Bosa, said the decision was made because the company believed condominiums would deliver a better return on investment than apartments and therefore saw the change as a good opportunity. A case could likely be made that the rental market in that section of San Diego is nearing saturation, with a lack of condo supply in downtown. There are roughly 1,600 apartments opening in downtown this year, and the majority are in East Village. Bosa’s new condo tower will be bounded by B Street, Eighth Avenue, C Street and Ninth Avenue. Last year, the city announced plans to pay Bosa $13 million to build a park on a portion of the site. Called North Central Square Park, the park will have 23k sq ft of open space, which will be transferred to the City of San Diego. In exchange for building the park, Bosa will receive $13 million worth of credits toward development impact fees I'd love to hear your thoughts on this new property development - What do you think about the creative way for the City to get a park built? What do you think about switching to condos instead of apartments? What do you think the condos will sell for once they're completed? Learn more: https://lnkd.in/gJ3vpk2A . . . . #ChicagoTitle #CommunityUpdate #AroundSanDiego #PropertyDevelopmentNews #RealEstateNews #StrategicBusinessPartner #SanDiegoDevelopments #DowntownSanDiego

List Price - $3,450,000 Cap Rate - 5.14% Price Per Unit - $431,250 Price Per Square Foot - $514.77 Marcus & Millichap is pleased to present an eight unit multifamily asset located at 2930 E 5th Street in Long Beach, California. Built in 1963, the subject property consists of 6,702 rentable square feet spread throughout a 0.15 acre lot. The building consists of seven 2-Bedroom / 1- Bathroom units and one 3- Bedroom/ 2-Bathroom unit. Owners enjoy the high demand for rentals in a coastal city of Southern California. Located just off the retro row corridor of 4th street, 2930 E 5th is considered a “walker’s paradise” with a “walk score” of 91, ideal for tenants who can easily get to restaurants, shopping, entertainment, and schools by foot. Tenants are also easily able to commute to large employment centers like Downtown Long Beach and CSULB, both just a few miles away. In addition, all of the eight units have been extensively renovated, including, but not limited to, new flooring, new cabinets, new fixtures, new electrical subpanels, and new paint. Those units are achieving top of market rents, demonstrating the viability of this asset in a prime Belmont Heights location. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a great location with strong current income that will provide a stable return. For more information on this listing, please contact Ryan Gonzalez at (562) 257-1304 or Kevin King at (562) 972-1050. For more information on the property: https://buff.ly/433VFRH. #thekinggroup #marcusmillichap #longbeach #downtownlongbeach #CSULB #BelmontHeights #SouthernCalifornia #SoCal #LongBeachCivicCenter #PortofLongBeach #QueenMary #multifamily #apartments #rentals #renovated #walkersparadise #retrorow #newlisting #featuredlisting

Exploring Lucrative Real Estate Ventures in Gerrards Cross Gerrards Cross has captured the attention of savvy Real Estate Investors and Developers as a prime destination for strategic investments in new construction, apartments, and tailor-made detached residences. Notably, detached homes stand out as the preferred choice among buyers, boasting an average selling price of £1.2 million. Since 2019, the valuation of detached homes in Gerrards Cross has experienced a noteworthy 22% increase. A prevailing trend among real estate enthusiasts involves the demolition of traditional Victorian-style residences, giving way to the construction of sleek and contemporary homes. These modern dwellings are not only designed for aesthetic appeal but also incorporate cutting-edge home automation systems and energy-efficient solutions. Furthermore, Gerrards Cross boasts an enviable record of low crime rates, making it an undisputed choice for investment with consistent Compound Annual Growth Rate (CAGR) appreciation. In addition to the appreciating property values, rental prices in the area also contribute to the overall attractiveness of this real estate haven. Sources available upon request. #GerrardsCross #SouthBucks #Buckinghamshire #RealEstateInvestment #CAGR

Orange County in Southern California is preparing for even greater expansion and development well into 2024 and beyond with new large scale developments being planned or already underway. Throughout the county, multiple vacated or semi-abandoned shopping malls and regional shopping centers are being converted or redeveloped into multifamily projects with mixed use and retail. The sheer volume is expected to add more than 12,000 apartments in 10 malls throughout the core areas of the OC. Here's a highlight of the properties coming available > 309-unit Paloma apartments at Main Place in Santa Ana > Metro Town Square in Santa Ana is the largest with 3,700 residences in the works > Adjacent South Coast Plaza Village 1,583 homes are being planned > Westminster Mall into Bolsa Pacific, a complex of 1,065 apartments across three five-story buildings > Currently there are nearly 500 residences at Bella Terra in Huntington Beach with plans to develop a 300-unit apartment building > Laguna Hills Mall is turning into the Village of Laguna Hills, with approximately 1,500 apartments With one of the lowest apartment vacancy rates in the nation, it is no surprise that developers are rushing to fill the demand. MARQUIS Commercial Properties has commercial land available for multifamily, self storage and retail development in the Inland Empire and surrounding areas. CONTACT US FOR DETAILS #banking #finance #innovation #multifamily #realestate #marquiscommercialproperties

🏡🌟 Exciting Real Estate Investment Opportunity FOR LEASE in Henderson County! 🌟🏡 I am thrilled to share with my professional network an exceptional real estate investment opportunity that's not to be missed. As we continue to expand our real estate portfolio, we firmly believe that investing in property is a key to securing your financial future. 🏢 Prime Commercial Space for Lease in Cedar Creek Lake Area 🏢 Nestled in the heart of Henderson County, this premium commercial property is poised for success, and we're eager to find the perfect business to occupy this space. It's an ideal chance for entrepreneurs and business owners seeking to relocate or establish a presence in this thriving region. Why consider this opportunity? ✅ Prime Location: Strategically positioned in the vibrant Cedar Creek Lake area. ✅ Limitless Business Potential: Possibilities abound in this dynamic locale. ✅ Henderson County's Prosperous Economy: A strategic move for securing your financial future. Do you know someone in your professional network who's been exploring opportunities for their business or a strategic relocation? Tag them in the comments or share this post with your connections. Help them unlock the potential that awaits in Henderson County. This could be the real estate investment of a lifetime, and I encourage you to reach out to me for more information or to schedule a visit. Let's work together to turn your real estate aspirations into a reality. 💼🔑 #RealEstateInvestment #CommercialProperty #HendersonCounty #CedarCreekLake #BusinessOpportunity #InvestInYourFuture

Imagine owning a prime property of one of America's top-selling communities - a brand new, build-to-rent community with low vacancy rates and modern living at its core. This isn't just a vision; it's your reality with our 135-unit residential rental property in East Mesa, Arizona known as “Annex at Cadence.” Investments Highlights: • Currently 96% occupied at introductory rates with upside potential to increase the rates • Competitively priced • Individually platted allowing for flexibility as an investment asset • New detail oriented management • Strong rental market    Property Highlights: • Spacious two-story living: Each unit boasts 1,464 to 1,569 square feet of thoughtfully designed space, complete with three bedrooms and 2.5 bathrooms and a private garage. • Modern convenience: Built in 2023, coastal contemporary design, offering residents the latest in energy efficiency, comfort, and low-maintenance living. • Thriving location: East Mesa is experiencing explosive growth, with extensive new development and a vibrant atmosphere. It's no wonder it's consistently recognized as one of the top-selling communities in the nation. • Low vacancy, high returns: With occupancy rates already soaring, you can be confident of a steady stream of rental income from your investment. Danny Perkinson #RealEstateInvestment #MesaPortfolio #BuildToRent #InvestorOpportunity #ArizonaRealEstate

Calling All Investors and Developers! The CBRE National Apartment Group – BC is pleased to present the unique opportunity to acquire The Lonsdale Apartments, a well maintained 25 suite rental apartment building with a Penthouse centrally located in the highly desirable Upper Lonsdale Neighbourhood of the city of North Vancouver, BC which is one of Canada’s most desirable cities characterized by its steady population growth and a diverse and robust economy. The subject property is steps to an abundance of tenant friendly amenities and just steps from what will be the New Harry Jerome Community Recreation Centre which is currently under construction and upon completion will comprise a new state of the art recreational facility scheduled to open in early 2026. The property is situated on a large corner 14,472 square foot rectangular shaped land parcel, and is ideally suited for an investor or developer to take advantage of the Residential Level 5 zoning that may allow for a new purpose-built rental building up to 6 storeys and approximately 50 or more rental units. In addition, the recent capital improvements completed to the building by the current Vendor will minimize the capital requirements that a new investor or developer may have to spend on the building during their desired holding period. Please reach out to our apartment team with any questions or to request additional information on this offering by calling 604-662-5179 or reaching out to any members of our team at Lance Coulson Personal Real Estate Corporation or Greg Ambrose. You may also find more info on our custom multi-family website https://lnkd.in/emPNqfP for information on current Listings, Sales, Market Information or to sign up to our email distribution list.   #CBRE #NewListing #NorthVancouver #Apartments #ForSale #MultiFamily #Rental #Development #Residential #Site #Investment #Realestate #Investing #Commercial #Lonsdale #BCapartments #Apartmentgroup

New Listing in Glendale! First time on the market in nearly 28 years, and located in highly sought after neighborhood of Glenwood.     * Seven-unit multifamily investment opportunity in Glendale a 559 Glenwood Rd, located on the corner of Clement Dr. & Glenwood Rd just west of N Pacific Ave and steps to Herbert Hoover Middle School and Eleanor J Toll Middle School   * The subject property features an impressive unit mix of one single and six two-bedrooms with six garages for parking; the building is 100% occupied and recent rent increases were served and effective on May 1st   * The property is well-kept but presents a significant value-add opportunity for investors; units are in good condition with hardwood flooring, recessed lighting, and spacious layouts, but the majority of units are rented below market with upside of over 45% achievable as units turn and interior upgrades are made   * At the asking price, the property is being offered at $342,857 per unit and $361PSF   * Located in an affluent neighborhood of Glendale with single-family residences to the north of the property on Clement Dr; the average household income within a two-miles radius is $94,893   * There is a significant affordability gap between renters and homeowners in the area; the median home value in a five-mile radius of the property is $897,788 💼Exclusively listed by Leonardo Laterza & Neema Ahadian. #TheNeemaGroup #LosAngeles #MarcusandMillichap #BuyLA #CRE #LosAngelesCRE #NewListing #LACommercialRealEstate #ApartmentsBuildingForSale

Calling All Investors and Developers!   The CBRE National Apartment Group – BC is pleased to present the unique opportunity to acquire The Lonsdale Apartments, a well maintained 25 suite rental apartment building with a Penthouse centrally located in the highly desirable Upper Lonsdale Neighbourhood of the city of North Vancouver, BC which is one of Canada’s most desirable cities characterized by its steady population growth and a diverse and robust economy.   The subject property is steps to an abundance of tenant friendly amenities and just steps from what will be the New Harry Jerome Community Recreation Centre which is currently under construction and upon completion will comprise a new state of the art recreational facility scheduled to open in early 2026.   The property is situated on a large corner 14,472 square foot rectangular shaped land parcel, and is ideally suited for an investor or developer to take advantage of the Residential Level 5 Zoning that may allow for a new purpose-built rental building up to 6 storeys and approximately 50 or more rental units. In addition, the recent capital improvements completed to the building by the current Vendor will minimize the capital requirements that a new investor or developer may have to spend on the building during their desired holding period.    Please reach out to our apartment team with any questions or to request additional information on this offering by calling 604-662-5178 or reaching out to any members of our team at Lance Coulson Personal Real Estate Corporation and Sim Waraich. You may also find more info on our custom multi-family website https://lnkd.in/emPNqfP for information on current Listings, Sales, Market Information or to sign up to our email distribution list.   #CBRE #NewListing #NorthVancouver #Apartments #ForSale #Rental #Development #Residential #Investment #Realestate #Investing #Commercial #Lonsdale #BCapartments #Apartmentgroup #VancouverRealEstate #MultiFamilyInvestment