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$ 2,975,000
Est. payment /mo
Active
1430 Elm Avenue Long Beach, CA 90813
9,690 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,690 sqft
Price per Sqft $307
MLS Listing ID CL26864283
HOA Y/N No
Year Built 1930
Lot Size 0.305 Acres
Acres 0.305
Property Sub-Type Other
Property Description
$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
State CA
County Los Angeles
Zoning LBR3S
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 7269025037
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Listed by Steffan Braunlich • Berkadia