1470 Elm Ave - Apartments FOR SALE


Long Beach, CA 90813- Downtown Long Beach
$2,549,000 USD
310-948-2631
1470 Elm Ave, Long Beach, CA for Sale
$2,549,000 USD
Apartments - FOR SALE
1/14
null | 6.3% Cap Rate

1470 Elm Ave
Long Beach, CA 90813
Downtown Long Beach


HIGHLIGHTS

  • PRICED TO SELL - 10.2 GRM AND 6.3% CAP ON IN PLACE RENTS.
  • Excellent financing available for qualified Buyers - 5.25% 5-year fixed, fully amortized. Put 29% down.
  • Heavily Remodeled - over $290K spent on CAP EX since 2020.
  • NOT Subject to local Rent Control - only AB 1482.
  • EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND SETUP.

OVERVIEW

PRICED TO SELL - 10.2 GRM AND 6.3% CAP AGAINST IN PLACE RENTS. 10 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI. All 2+1's, with 9 of 10 units heavily remodeled including new kitchens, baths and flooring. Over $290K spent on CAP EX since 2020. The property is professionally managed and well maintained. There is parking in the rear for 8 cars and an onsite laundry room. Excellent financing available for qualified Buyers - put 29% down - 5.25% 5-year fixed, fully amortized. EMAIL LISTING AGENT FOR MORE INFO INCLUDING A RENT ROLL AND SETUP.

FOR SALE DETAILS

PRICE

$2,549,000 USD

PRICE/SF

$382 USD /SF

# OF UNITS

10

PRICE/UNIT

$254,900

CAP RATE

6.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,593 SF

ZONING

LBR3S

APN/PARCEL ID

7269-025-009

ASK ABOUT THIS PROPERTY

Jon SwireThe AgencyMore Info
310-948-2631

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Jon SwireThe AgencyMore Info
310-948-2631

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.