Pending
$3,200,000
15%
21 Units
1 Beds
12 Baths
8,710 Area(sq.ft.)
Lot: 7,503 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 770 | $ 770 | $ 1,695 |
| Unit 10 | 3 | studio | 1 | No | $ 1,325 | $ 3,975 | $ 4,185 |
| Unit 11 | 3 | studio | 1 | No | $ 1,350 | $ 4,050 | $ 4,185 |
| Unit 12 | 1 | studio | 1 | No | $ 1,360 | $ 1,395 | $ 1,395 |
| Unit 2 | 1 | studio | 1 | No | $ 1,100 | $ 1,100 | $ 1,395 |
| Unit 3 | 1 | studio | 1 | No | $ 1,170 | $ 1,170 | $ 1,395 |
| Unit 4 | 1 | studio | 1 | No | $ 1,185 | $ 1,185 | $ 1,395 |
| Unit 5 | 1 | studio | 1 | No | $ 1,135 | $ 1,135 | $ 1,395 |
| Unit 6 | 3 | studio | 1 | No | $ 1,130 | $ 3,390 | $ 4,185 |
| Unit 7 | 1 | studio | 1 | No | $ 1,140 | $ 1,140 | $ 1,395 |
| Unit 8 | 1 | studio | 1 | No | $ 1,135 | $ 1,135 | $ 1,395 |
| Unit 9 | 4 | studio | 1 | No | $ 1,275 | $ 5,100 | $ 5,580 |
| 21 | 1 | 21 | $ 25,510 | $ 63,675 | $ 71,445 |
| MLS #: | PW25006856MR |
| Days On Market: | 337 |
| Listing Date: | January 11, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 367 |
| Price per unit: | $ 152,381 |
| Year Built: | 1948 |
Property Details
Substantial Reduction in Price--625 Elm Avenue is a 21-unit multifamily investment opportunity located in Long Beach, CA. The property offers 20 studios, and 1 one-bedroom unit, with amenities including gates access, security doors, and one double car garage. This investment property is situated in the fantastic Downtown Long Beach location, surrounded by an abundance of retail, dining, and entertainment options, as well as many employers in the high-rise office buildings. Additionally, the property's close proximity to Interstate 710 provides convenient access to the Port of Long Beach and the Port of Los Angeles, two of the busiest ports in the world and a major employment hub for the region. Furthermore, 625 Elm Avenue is within close proximity of all three levels of education.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 297,693 |
| Total Annual Expense: | $ 0 |
| Net Operating Income: | $ 178,644 |
Structure
| Community Features: | Sidewalks, Street Lights, Urban |
| Security Features: | Carbon Monoxide Detector(s), Smoke Detector |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Zoning: | LBPD30 |
| Land Lease Type: | Fee |
Interior
| AC/Cooling: | None |
| Heating: | Wall |
| Fireplace Rooms: | None |
| Laundry: | Laundry Area |
| Laundry Income: | 75.00 |
Exterior
| Exterior Construction: | Stucco |
| Pool: | No |
| Spa: | No |
Detailed Map
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