Description

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 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.