Listings

Southfield East & West Apartments @ 5565 - 5700 Ackerfield Ave, Long Beach, California 90805
Escrow: $

Units: 143

Lead Agent : Kevin J. King

Phone Number : 562 257 1246

Email Address : kevin.king@marcusmillichap.com

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Call for Offers

  • The King Group is pleased to present Southfield West and Southfield East Apartments, a two-property offering that can be acquired individually or on a multi-property basis
  • Southfield East and West provide a compelling opportunity for an investor to acquire assets with significant value-add potential
  • The Properties’ excellent infrastructure provides the potential to expand upon and deliver some of the highest quality amenities in the submarket
  • Southfield East and West, which are in Northern Long Beach, benefit from their proximity to some of the region’s most robust employment hubs and entertainment centers, such as Downtown Long Beach, South Bay, Downtown Los Angeles, and Anaheim
  • Long Beach’s central location and proximity to a diverse labor pool have made the city a logical choice for many domestic and international businesses throughout Orange and Los Angeles County
  • There are no market-rate properties (50+ units) currently under construction or built in over 30 years in the Northern Long Beach region and any future development would require significantly higher rents, keeping the Properties well insulated for the foreseeable future
  • Long Beach’s median price for a single-family residence has grown to $780K. This represents an 122.9% increase in Long Beach home prices over the past ten years. As home ownership remains out of reach for most residents, demand for quality rental housing will remain strong allowing the Properties to capture future rent growth while maintaining high occupancy

 

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