The Mogharebi Group | Multifamily Investment Advisory

Property Summary

Price	Call for Details
Units	153
Year Built	1986

Investment Highlights

Proven Value-Add Opportunity
Excellent Visibility and Exposure on Market Street
Highly Desirable Unit Mix with Large Floorplans
1986 Constructed, Well-Maintained Asset
Strong Submarket Fundamentals
ADU Development and Amenity Upside
Located in a Qualified Opportunity Zone

Property Description

The Mogharebi Group is pleased to present the opportunity to acquire The HIVE @ Market, a 153-unit multifamily community located in Long Beach, California. Built in 1986, this well-maintained asset features a desirable mix of studio, one, and two-bedroom apartments with approximately 70 of the 153 units (46%) having interior renovations including quartz countertops and new stainless-steel appliances. With upgraded interiors commanding an average rental premium of $448 per month over classic units, The HIVE @ Market offers a solid cash flow investment with the opportunity to increase revenue and add further value by renovating the remaining 54% of units.

2301 East Market Street
Long Beach, CA 90805

The Long Beach multifamily submarket occupancy sits at 95%, indicating a relatively strong demand for rental housing in Long Beach. The submarket, along with its ports, benefits greatly from the dense population of LA County and from the commerce that comes with being a hub for global shipping.