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Listed by W. Kurt Wood, DRE #00452182 • Belmont Brokerage & Mgmt. INC.
$ 5,850,000
Est. payment /mo
Price Dropped by $50K
1518 E Artesia Long Beach, CA 90805
3,814 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25247306
Style Contemporary
Year Built 1955
Lot Size 3,814 Sqft
Source California Regional MLS
Property Description
30-Unit Apartment Community | Prime North Long Beach Location ***Price reduced from $6,450,000 to $5,850,000*** New GRM = 9.4***, new CAP rate of 7.1. Investment Overview: This is a rare opportunity to acquire a 30-unit multifamily property strategically located in the vibrant and improving North Long Beach rental market. The property consists entirely of one-bedroom, one-bath units-a unit mix that remains among the most consistently in-demand and easy to lease in the area. With high tenant retention and historically low vacancy, this asset provides a stable income stream and strong long-term appreciation potential. Property Highlights: 30 One-Bedroom / One-Bath Units - Highly sought-after floorplans offering functional layouts and reliable tenant demand. Ample Parking & Additional Income - Thirteen (13) garages and nine (9) off-street parking spaces generate supplemental revenue and tenant convenience. On-Site Laundry Facilities - Well-maintained common laundry areas add another source of ancillary income. Separately Metered Utilities - Each unit is individually metered for gas and electricity, reducing ownership expenses and simplifying management. Excellent Access - Centrally located with easy access to major freeways, employment centers, schools, and retail corrido
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Rooms
Kitchen None
Interior
Cooling None
Laundry Laundry Area, Washer/Dryer - Owned
Exterior
Parking Features Assigned Spaces
Garage Spaces 22.0
Pool 31, None
View None
Roof Type Composition
Building
Architectural Style Contemporary
Others
Tax ID 7114010051
Special Listing Condition Not Applicable
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