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$ 3,100,000
Est. payment /mo
New
4126 Elm Ave Long Beach, CA 90807
10,754 Sqft Lot
UPDATED:
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Bixby Knolls (Bk)
MLS Listing ID PW26208894
HOA Y/N No
Year Built 1977
Lot Size 10,754 Sqft
Property Sub-Type Apartment
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.
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
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 9.0
Garage Description 9.0
Pool None
Community Features Curbs, Golf, Park, Suburban
Total Parking Spaces 10
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7139007005
Energy Description 1990.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Ryan Gonzalez Lyon Stahl Investment Real Est ryan.gonzalez@lyonstahl.com, DRE #01874815