154 Elm Avenue, Long Beach, CA 90802
-
Listed Price :
$1,895,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
-
Year Built :
1921
Property Description
Prime Mixed-Use Investment Opportunity in Downtown Long Beach
Located in the vibrant East Village of Downtown Long Beach, this mixed-use building offers an exceptional investment opportunity. Situated on Elm & Broadway, just two blocks from the Long Beach Convention Center and steps from the bustling Pine Avenue with its restaurants and nightlife, this property is in the heart of a high-demand area with significant potential.
The building consists of four commercial business tenants on the ground floor, generating reliable income, along with 11 rented residential units above—10 studios and 1 one-bedroom—currently on month-to-month leases. Note: 10 of the residential units do not have private bathrooms 2 are shared upstairs. With a solid CAP rate over 6%, this property offers a strong return on investment. All units are due for increases as soon as the new owner decides. The units above have a motel designation, offering future flexibility for potential conversion.
This property is professionally managed, ensuring ease of ownership and maintenance. For buyers interested in converting the units to a motel or renovating, new management services will be available to facilitate a smooth transition and maximize the property’s potential with rent increases and renovation.
The building itself is a beautiful brick structure, adding to the character of the East Village while providing a robust and low-maintenance asset for the investor.
This is an excellent opportunity to acquire a mixed-use property in one of Long Beach’s most vibrant areas. Buyer to verify all details, including the motel designation with city permitting and financials.
Interior Features
| Laundry Information |
| Location(s) |
None |
| Bedroom Information |
| Features |
All Bedrooms Up |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
| Flooring Information |
| Material |
Carpet, Laminate |
| Interior Information |
| Features |
Multiple Staircases, All Bedrooms Up |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
154 Elm Avenue |
| City |
Long Beach |
| State |
CA |
| Zip |
90802 |
| County |
Los Angeles |
| Listing Agent |
Joshua Coburn DRE #02027758 |
| Courtesy Of |
Chamberlain Real Estate |
| List Price |
$1,895,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Mixed Use |
| Structure Size |
N/A |
| Lot Size |
3,720 |
| Year Built |
1921 |
Listing information courtesy of: Joshua Coburn, Chamberlain Real Estate. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 19th, 2024 at 6:04 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
