245 Temple Avenue

Long Beach, CA 90803

Presented By: The Nova Group

Property Features:

Units: 8
SQFT: 6,078
PPSQFT: $473.02
Lot: 7,235 SQFT
Garage: 4
GOI: $213,448
Expenses: $55,508.16
NOI: $147,374.44
GRM: 13.01
CAP: 5.36%
Located in the highly desirable Bluff Heights Historic District, this 8-unit multifamily property offers a unique combination of immediate cash flow and significant value-add potential. Three units (4, 7, and 8) have been fully remodeled, with Units 6 and 3 nearing completion. The remaining Units 1, 2, and 5 provide additional upside through modernization. The property also includes four garage spaces with the potential to convert into two ADUs for added rental income.
Key features include a current NOI of $147,374.44 and a 5.36% cap rate at the asking price of $2,750,000. This well-maintained property benefits from strong tenant demand in an area known for its low vacancy rates (3-5%) and rent growth of 5-7% annually.
Conveniently located near Downtown Long Beach, Seal Beach, and Huntington Beach, the property is close to shopping, dining, and local amenities on 2nd Street and Retro Row.
This is an excellent investment opportunity with room to enhance income and long-term appreciation.
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Sarkis "Sako" Ter-Minasyan is a rising star in the real estate industry and a proud member of the Craft & Bauer family. He was awarded the 2022 Rising Star and 2022 Partners Circle, a testament to his hard work and dedication to his clients. Born in Armenia, he was raised in Los Angeles, where he would eventually lay down roots and start a family of his own. Today, he is a proud father to two beautiful little girls and a devoted husband to his wife/business partner Lilit. Together, they formed "The Nova Group" and continue to grow their team.

In addition to his work as an Estate Agent at Craft & Bauer, Sarkis is also the founder of Title Homes.LA is a residential redevelopment company that has made a name for itself in the competitive Los Angeles real estate market. With a passion for high-end architecture, Sarkis takes great pride in helping families find their dream homes as well as helping investors determine their exit strategy in complex transactions.

Sarkis has always been a competitive individual, which he attributes to his lifelong love of basketball. He believes that you can learn a lot about a person by the way they play the game, and this mindset has served him well in his work as a master negotiator. Sarkis is well-informed about the latest trends in the real estate industry, and he uses that knowledge to make well-rounded decisions for his clients.

At the heart of it all, Sarkis is a man of faith. The foundation of his career is built around 2 Thessalonians 3:10-12, and it is that faith that drives him to go above and beyond for his clients' needs. He refuses to let anyone outwork him and is committed to delivering the best possible results for those who trust him with their real estate needs.

If you're thinking about selling your home, you couldn't find a better partner than Sarkis "Sako" Ter-Minasyan. With his experience, knowledge, and drive, he is the ideal choice for anyone looking to make a successful real estate transaction.

Sarkis Ter-Minasyan

Craft & Bauer Real Estate Co.

Estate Director | DRE: 02062179

email: sarkis@novagroup.la

mobile: 818.572.9557

Work With Me

An alumna of UC Irvine, Lilit is a passionate real estate professional with an entrepreneurial spirit. Her background includes launching her own sales and marketing firm with 35 employees whom she personally trained in sales, marketing, and leadership. Her partnerships with big box retailers like Costco and Sam’s Clubs in the Los Angeles market created unique opportunities that her clients had always wished for.

Lilit's experience in owning and managing a business has given her a wealth of skills in client relations, strategic planning, and business management that she brings to every real estate transaction. But her true passion lies in real estate, where she can combine her love for helping people with her entrepreneurial spirit. She firmly believes in the principle of treating others as you would like to be treated (Matthew 7:12) and strives to live her life according to this principle.

Lilit's biggest motivation in life is her relationship with God and her duty as a wife and business partner to Sarkis, and mother of two beautiful little girls. Together with her husband Sarkis, they formed "The Nova Group" and continue to grow their team. For Lilit, her faith and family serve as the foundation of her work, fueling her drive to help others achieve their real estate dreams.

For Lilit, creativity is key to every real estate transaction. She understands that every client is unique and deserves a customized approach to their real estate needs. Her commitment to excellence and her willingness to get creative set her apart as a real estate professional. With Lilit, you can rest assured that you'll receive the best possible outcome of your investment.