Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

14

Building size

9,690 sqft

Lot size

13,285 sqft

Year built

1930

Stories

0

Heating

Wall Furnace

Status

Active

Days on market

79

MLS #

245208661

About this property

$200,000 Price Reduction | Actual 6.98% Cap Rate | This 14-unit apartment building is located in an established residential neighborhood in Long Beach. Built in 1930, the property showcases classic Spanish style architecture, with a consistent unit mix of 14 one-bedroom, one-bathroom apartments averaging 692 square feet each. The property features a sun deck, patio areas and anapproximate 3,500 square feet landscaped backyard with artificial turf and mature trees. This space offers excellent development optionality, allowing buyers to streamline expansion via Long Beach's Pre Approved ADU Plans Program (AB 1332) or leverage recent state legislation (SB 1211) for additional density upside, subject to city approval. Combined with gated semi-subterranean parking and recent infrastructure updates including new windows and updated water heaters the property delivers stable in-place performance alongside a clear pathway to future value-add development.

Location

1430 Elm Avenue

Long Beach, Los Angeles, CA, 90813