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Listed by Jun Chang • New Star Realty & Investment
$ 2,200,000
Est. payment /mo
Coming Soon
110 East Anaheim Street Long Beach, CA 90813
UPDATED:
Key Details
Property Type Commercial
Sub Type Business
Listing Status Coming Soon
Purchase Type For Sale
MLS Listing ID SB-25187552
Year Built 2008
Property Sub-Type Business
Property Description
Retail Investment Opportunity - "Anaheim Pine Plaza" in Long Beach City. Located at the high-traffic intersection of Anaheim Street and Pine Avenue, adjacent to Pacific Avenue, this attractive commercial retail building sits in the well-established Anaheim Pine Plaza shopping center. Property Highlights: Building Size 4,467 SF. and Lot Size 13,853 SF. This building was rebuilt in 2008 and it is in good and modern condition. It has more than 20 on-site spaces - ample for customers and staffs. Zoning is Commercial Retail. One tenant is LPB Convenience Store - Long-term, stable tenant. Using 2,820 sf, rent is $8,556.37. The other is Veronica's Insurance - Well-known brand throughout Southern California. Using 1620 sf, rent is $5,723.33. Total monthly income is $14,297. Yearly gross income is $171,356 and net income is $134,496. This good income makes Cap Rate of 6.11%. Both tenants under Rent + NNN leases. 3% Annual Rent Increases. Separate electrical meters, HVAC units, and utilities for each tenant. This is a rare opportunity to acquire a low-maintenance, income-producing asset with strong, long-term tenants in place. Ideal for investors seeking a stable return with built-in rental growth in a high-visibility, high-traffic location. (See attached Listing Supplements for Property information, Rent roll, and Profit/ Expense detail)
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Zoned, Central
Laundry None
Building
Lot Description Paved, Corner Lot