1612 - 1618 E. Appleton Avenue is a 4-unit investment opportunity in prime Alamitos Beach, just blocks from the Ocean and Bike Path.
The building features spacious one-bedroom units, two of which have a bonus office rooms. The units have 1920's character and detailing, with hardwood flooring, crown molding, built-ins and ceiling fans. The building provides laundry income, is separately metered for gas and electric, and has a community outdoor patio. This property provides an excellent opportunity for an investor to own an easily manageable asset with 22%+/- upside potential just blocks from the beach in the most desirable rental market in Long Beach. Nestled between downtown Long Beach and Belmont Shore is the charming, popular coastal neighborhood of Alamitos Beach. The area is within minutes of the best that Long Beach has to offer. Residents can walk to the wide sandy beach, bike path and volleyball courts, as well quaint bars and restaurants along the Broadway Corridor and trendy shops, restaurants and bars on Fourth Street-Retro Row. The area is also adjacent to booming Downtown Long Beach and its multitude of employment opportunities.