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Listed by Ryan Gonzalez, DRE #01874815 • Lyon Stahl Investment Real Est
$ 3,100,000
Est. payment /mo
New
4126 Elm Ave Long Beach, CA 90807
10,757 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26208894
Year Built 1977
Lot Size 10,757 Sqft
Source California Regional MLS
Property Description
We are pleased to present 4126 Elm Ave, an 8 unit condo-quality trophy investment opportunity in Long Beach's Bixby Knolls. Built in 1977, the two-story building sits just two blocks off of the Atlantic Avenue corridor and just a few miles from the ocean and Downtown Long Beach. The 9,761 SF building sits on a 10,755 SF lot with an unusually large unit mix: three 1+1 units, four 2+2 units and one 3+2.5 owner's unit, with the average SF of each unit being roughly 1,220 SF. Each unit has its own fireplace, heating and air conditioning, patio or balcony and garage parking, which is currently provided at no charge, providing immediate additional upside for a new buyer. Current rents average $2,256 against market rents of $3,008 - about 33% of upside - taking the property from a 4.23% cap rate to 6.91% pro forma. Bixby Knolls is a Walk Score 84 neighborhood anchored by the Atlantic Avenue corridor, SteelCraft Long Beach and the Expo Arts Center, with the 405 a mile south and Long Beach Airport under four miles away.
Location
State CA
County Los Angeles
Area 6 - Bixby, Bixby Knolls, Los Cerritos
Interior
Laundry Laundry Area
Exterior
Garage Spaces 10.0
Pool None
Building
Water District - Public
Others
Tax ID 7139007005
Special Listing Condition Not Applicable
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