Listed by JENNIFER MENDOZA with EXP REALTY OF CALIFORNIA INC [email protected]

Prime Investment Opportunity: Entitled 11-Unit Development with Existing Cash Flow in Long Beach
This is a rare and highly attractive opportunity to acquire a stabilized 6-unit multifamily property situated on an oversized lot already entitled for an additional 5 units--bringing the total future unit count to 11 units. Upon completion, the project is projected to be valued at over $6,000,000, making this a compelling investment with significant upside potential.

Key Highlights:
Turnkey Existing Units:

5 of 6 units fully renovated with brand-new systems throughout the property, ensuring minimal immediate capital expenditures.
Unit Mix (Existing 6 Units):
(4) 1 Bed / 1 Bath
(1) 2 Bed / 1 Bath
(1) 2 Bed / 2 Bath
Entitled 5 Additional Units:
Development-ready plans for modern units:
(2) 3 Bed / 2 Bath units with grade-level parking
(3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking
Financial Performance:
Stabilized Gross Income: Projected to generate nearly $37,000 per month upon full build-out.
Strong Cap Rate: Stabilized at a 6.75% Cap Rate on cost.
Attractive GRM: Achieves a 10.74 GRM on cost, underscoring strong investment fundamentals.
Significant Profitability:
Projected end value exceeds $6,000,000, providing exceptional upside in one of Long Beach's hottest rental markets.
Conservatively underwritten profits of $1.2M+ make this an ideal low-risk, high-reward investment.
Strategic Investment Benefits:
Immediate Cash Flow:
Benefit from consistent cash flow during the development process with income from the stabilized 6 existing units.
Low-Risk Development Play:
Existing units offset holding costs, while entitled plans minimize entitlement risk.
High-Demand Location:
Situated in Long Beach, a thriving rental market with strong tenant demand and long-term appreciation potential.
This property offers the best of both worlds: stable cash flow today and exceptional upside tomorrow. With a clear path to development and substantial projected returns, this is an opportunity that investors and developers alike will not want to miss.