1503 N Stanton Place, Long Beach, California 90804

1503 Stanton Pl | 10-Unit Multifamily, Long Beach. This 1960-built asset totals 6, 710 SF across a front and rear building on a 10, 736 SF R-2-N lot in Long Beach’s Zaferia neighborhood, a short walk from neighborhood shopping and 1.2 miles from Long Beach City College. The property features (10) 2BR/1BA units averaging 671 SF. Eight of 10 units are occupied at an average rent of $2, 008 against a $2, 095 market rent, and Units 1 and 4 are delivered vacant for the buyer to lease at market. Offered at $2, 375, 000 ($237, 500/unit | $353.95/SF) with a 7.13% cap rate at lease-up, the real story is yield: a cap rate above every comparable sale reporting one, with a 7.48% pro forma reached through natural turnover and no renovation program.