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LMDG Real Estate Value Fund II, LP has acquired another asset, an 11 unit value-add apartment building located in Alamitos Beach (Long Beach, CA). The property was acquired at approximately 60% of replacement cost and is operating at rents 40% below market (representing a true Value-Add asset with tremendous upside).
The property is strategically located near Long Beach's Retro Row, a unique eclectic enclave of approximately 100 independently owned and operated businesses that offer goods, restaurants, and entertainment.
The property has been poorly managed but has a great unit mix and provides incredible rent and cash flow upside.
Fund II is still open for investment. For more information, download our flyer which outlines the strategy of the fund, track record, fund structure, and projected returns.
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