Est. cap rate

3.6%

Assumed rent, all units

$5,940/mo

Units

3

Price per unit

$333,333

Est. annual NOI

$35,640

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Triplex

Bedrooms

3

Building size

1,581 sqft

Lot size

5,386 sqft

Year built

1921

Stories

1

Garage spaces

5

Heating

Wall Furnace

Pool

None

Status

Active

Days on market

77

MLS #

242934345

About this property

For the owner-user, this is a rare live-and-earn opportunity. Occupy one of the units and let the other two work for you — tenant rents offset a substantial portion of your monthly carrying costs, making homeownership in Long Beach dramatically more attainable while you build equity in a cash-flowing asset. FHA and low-down owner-occupant financing options may apply. This exceptional triplex features a detached (3) bedroom 1 bath home, and a duplex with (2) 1 bedroom 1 bath units located in the rear. This unit mix delivers strong in-place income of $6,865/month with clear upside through market rent increases. Interiors have been updated with fresh finishes and systems and recent capital improvements remodels, roof work, and exterior paint — substantially reducing near-term maintenance obligations for a new owner. For the investor, this property generates immediate cash flow from day one. With a 30% down conventional loan, you step into positive cash flow at current rents with strong long-term appreciation potential and multiple built-in avenues to grow income over time. In addition, ADU permits were pursued to convert existing garages into more units (buyer to verify) offering another value-add play. Located in a desirable Long Beach rental corridor, 2310 Elm Avenue offers an exceptional combination of immediate income, long-term appreciation, and multiple paths to grow value. Whether you are an investor seeking a turn-key cash-flowing asset or an owner-user ready to reduce your cost of living, this is the opportunity you have been waiting for.

Location

2310 Elm

Long Beach, Los Angeles, CA, 90806