$2,450,000 - 1470 Elm Avenue, Long Beach

  • 0Beds
  • Baths
  • 6,678SQ. Feet
  • 0.17Acres

1470 Elm Avenue is a 10-unit investment asset with all two-bedroom units, located in a rapidly up-and- coming neighorhood near exciting new developments. The building's roof and windows were replaced in the past five years and nine of the ten units have been upgraded with vinyl plank flooring, paint and counter tops. The property also offers parking and controlled access. Offered at a 4.94% cap rate on actual rents, 1470 Elm Avenue provides an attractive opportunity for an investor to own an asset with 12%+/- rent upside potential in a quiet downtown Long Beach-adjacent neighborhood. This area is beginning to benefit from the large amount of capital flooding into Long Beach. As renters move inland from Downtown Long Beach and beach areas, renter demographics are changing in the surrounding areas. Exciting new developments are taking place within just a few blocks from the property.

Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:PW19205915
  • Price:$2,450,000
  • Bathrooms:0.00
  • Square Footage:6,678
  • Acres:0.17
  • Year Built:1959
  • Type:Residential Income
  • Status:Active

Community Information

  • Address:1470 Elm Avenue
  • Area:Downtown Area, Alamitos Beach (4)
  • Subdivision:Willmore District (WM)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90813

Amenities

  • Parking Spaces:1
  • # of Garages:1

Interior

  • # of Stories:2
  • Stories:Two

Exterior

  • Lot Description:6-10 Units/Acre

Additional Information

  • Date Listed:August 29th, 2019
  • Days on Market:48
  • Zoning:LBR3S

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Provided By: Robert Stepp(01456379), Keller Williams Pacific Estate.

Based on information from California Regional Multiple Listing Service, Inc. as of October 17th, 2019 at 10:37pm CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.