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A 12-unit, two-building property has traded hands in a revitalizing area of north Long Beach. A private investor purchased the property for $2.85 million or $237,500 and a 6% cap rate.

Built in 1961, the two-building property totals 7,712 square feet and features four one-bedroom units and eight two-bedroom units. All 12 units were recently renovated to include hardwood flooring, custom cabinetry, granite countertops, stainless steel appliances and modern lighting and fixtures.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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