The Toledo Apartments is a charming 2-story, balcony style walk up multifamily property consisting of 8 studio/1 bath units comprised of 4 different floor plans. Current owners have infused approximately $90,000 in recent building improvements including renovated interiors with new hardwood laminate floors, stainless steel kitchen appliances, new trims and baseboards, resurfaced cabinets and upgraded vanity tile flooring, mirror, and light fixtures in the bathrooms. Additionally, some major systems have been replaced including a new roof and partial copper plumbing. The building offers 1.5 parking spaces with abundance of street parking. Given the high rental demand in this sub-market combined with the affluent local demographics, the rental rates in this building remain competitive with 8% upside to realize in rents. With easy management and low operating cost this represents an excellent turn-key opportunity for an Investor in a well located beach neighborhood generating consistent cash flow for future growth potential.
Centrally located in prime Belmont Shore, the Toledo Apartments offers investors the opportunity to own an asset in one of the most prominent neighborhoods in Long Beach. Situated just a few blocks from the beach and convenient to myriad of restaurants, retail and coffee shops, recreational parks and activities, walkscore.com gives this location a solid 88/100 walkable score enticing quality Tenants to live and stay. As Long Beach continues to become the gateway city between Los Angeles County and Orange County, development will continue to surge as new businesses and residences decide to reside here creating prosperity and growth.
Updated on March 6, 2017 at 4:45 pm
THE TOLEDO APARTMENTS - 5279 E. The Toledo
