TEN60 - Short Term Appreciation
Rapidly improving Long Beach sub-market of Los Angeles.
Non-Rent Controlled property built in 1985 with a desirable mix of all two-bedroom units with two floor plans.
Well-maintained professionally managed asset with absentee ownership. Newly renovated units in need of minor cosmetic updating.
All units on month-to-month tenancy with in-place rents 44% below market.
Ability to implement rapid rent increases and tenant relocation without fees or penalties.
Property construction is currently underway and scheduled for completion for August 2018 occupancy.