3430-3440 Elm Ave - Apartments FOR SALE


Long Beach, CA 90807
$8,750,000 USD
949-302-6990
3430-3440 Elm Ave, Long Beach, CA for Sale
$8,750,000 USD
Apartments - FOR SALE
1/22
null | 3.65% Cap Rate

3430-3440 Elm Ave
Long Beach, CA 90807


HIGHLIGHTS

  • Close Proximity to Downtown Long Beach, Bixby Knolls shopping, Metro Link, and Freeways
  • Long Beach Airport (LGB) within 5 miles of subject properties.
  • Two Adjacent Buildings with Parking on -site and street.
  • 2 bedrooms each with either .5 or .75 additional bath.
  • VALUE ADDED-RENT UPSIDE!

OVERVIEW

Excellent Opportunity to Purchase Multi-Family Portfolio in High Demand Area! Bixby Knolls submarket! Value-added Sale - RENT UPSIDE! Two separate parcels - 2 buildings, each with 14 units. GRM 14.87 cap 3.65%, due to the owner keeping rents low. All rents month to month. Two fully remodeled units - VERY LOW VACANCY IF EVER! Breakdown: 3430 14 units- 2 bedrooms, 1.5 bathrooms Built 1962 3440 14 units- 2 bedrooms, 1.75 bathrooms Built 1964 Parking - tandem as seen in photographs, on the street, and 7 - single-car garages in the rear. New boiler impeccably maintained premises. Manager on site. Definite Value Added in Rent Upside. Very clean building with lots of desirability due to location and condition.

FOR SALE DETAILS

PRICE

$8,750,000 USD

PRICE/SF

$320 USD /SF

# OF UNITS

28

PRICE/UNIT

$312,500

CAP RATE

3.65%

% 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

1962

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

R4, Long Beach

APN/PARCEL ID

7145-011-012,7145-011-013

ASK ABOUT THIS PROPERTY

Maty Guiza-LeimertGuiza & Co Real EstateMore Info
949-302-6990

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Maty Guiza-LeimertGuiza & Co Real EstateMore Info
949-302-6990

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