Marcus & Millichap is pleased to present the opportunity to acquire Orange Royal Villa, a 32-unit multifamily investment property located in Long Beach, one of the premier housing markets in Southern California.
Situated on two adjacent parcels, Orange Royal Villa consists of oneand two-bedroom floor plans. The property offers amenities including controlled access, security doors, a shared courtyard, and on-site laundry. Additionally, the property offers an impressive 1.25 parking space to unit ratio, a rarity in the City of Long Beach.
Orange Royal Villa is positioned to the northeast of the East Village Arts District and is just north of Alamitos Beach. The East Village is a vibrant, eclectic pocket within the city with boutique stores, art galleries, coffee shops and restaurants. Additionally, the coastal Alamitos Beach neighborhood grants residents easy access to the beach, numerous parks, and a vibrant nightlife. These neighborhoods are known for their walkability, and Orange Royal Villa’s location provides great access to all these features.
Historically known for its status as the preeminent harbor city on the West Coast, Long Beach continues to gain notoriety as an exciting and vibrant waterfront destination. Long Beach’s world-class port, prestigious university, unique business market, and unmatched local attractions have made it one of Southern California’s most desirable markets. Additionally, Orange Royal Villa sits adjacent to some of the city’s highest concentration of new developments. These include numerous new residential and commercial developments that are revitalizing the landscape of the Downtown Long Beach.
Given the strength of the apartment market in Long Beach, Orange Royal Villa offers an investor the ability to capture quality tenants seeking an exceptional living experience within a vibrant neighborhood. The areas surrounding the property provides tenants convenient access to a wide variety of activities, employment, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth and success at Orange Royal Villa.