For Sale

Listed by Douglas Steinriede from Dover Management Corp.

Source: Combined LA Westside Multiple Listing Service, Inc #25556147

1445 Elm Avenue, Long Beach, CA, 90813

$1,849,000

6
7
2
4680 sq. ft.
7476 sq. ft.

Other

•

30+ days on the market

What's around 1445 Elm Avenue

About this property

1445 Elm is a seven-unit investment opportunity located in Long Beach, California. The property consists of four separate structures on a 7,476 square foot lot. Built in 1905, it includes (2) studios, (1) two-bedroom one-bath unit, and (4) one-bedroom one-bath units. The asset is well-managed, with most units at or near market rent. New ownership has the opportunity to capture remaining loss to lease and benefit from a stable, cash-flowing investment. 1445 Elm is conveniently located just a 5-minute walk from the Metro A Line Anaheim Street station and a short drive to the East Village Arts District and the Pacific shoreline. Within a one-mile radius are two of Long Beach's largest employers St. Mary Medical Center and Long Beach City College. Long Beach continues to be a high-growth residential area, with approximately 1,100 units currently in the construction pipeline, representing a 1.8%increase in total housing inventory upon completion. In the past 12 months, the submarket has seen the delivery of approximately 280 net new units.

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