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$ 5,150,000
Est. payment /mo
New
830 Elm AVE Long Beach, CA 90813
28 Beds
23 Baths
16,624 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 16,624 sqft
Price per Sqft $309
MLS Listing ID 26105141
Bedrooms 28
HOA Y/N No
Year Built 1964
Lot Size 0.362 Acres
Property Description
We are pleased to present 830-842 Elm Avenue, an attractive 23-unit multifamily investment opportunity located in Long Beach, California. Built in 1964, the property consists of two separate buildings totaling approximately 16,624 square feet on a 15,779-square-foot lot. The desirable unit mix consists of five two-bedroom/one-bathroom units and eighteen one-bedroom/one-bathroom units. The property has benefited from several significant capital improvements, including deck improvements completed in 2024 and copper re-piping completed in 2016. Constructed with wood framing, stucco exteriors, and pitched roofs, the buildings feature select renovated units with upgraded kitchens, quartz countertops, modern cabinetry, stainless steel appliances, contemporary fixtures, and wood-style flooring. Additional interior improvements include updated bathrooms and modern finishes. Residents enjoy gated entry, an on-site laundry room, and ample parking consisting of 12 enclosed garages and four surface parking spaces, providing a total of 16 parking spaces. The property is separately metered for gas and electricity, helping minimize owner-paid utility expenses. Offered at $5,150,000, the property presents an attractive investment opportunity with a 6.72% current capitalization rate and a 9.88 current gross rent multiplier. With strong in-place cash flow and additional upside through continued rent growth, 830-842 Elm Avenue offers investors the opportunity to acquire an established multifamily asset with long-term appreciation potential in the Long Beach rental market. Two separate parcels, 842 APN# (7273-018-004)
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBR4N
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Microwave, Refrigerator
Exterior
Parking Features Driveway, Private
Garage Spaces 12.0
Garage Description 12.0
Total Parking Spaces 16
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7273018005
Special Listing Condition Standard
Listed by Alexander Metaxas Realty Investment Advisors, Inc. #01784652