154 Elm Avenue
Long Beach, CA 90802
- – beds
- – baths
- – sqft
- 3,720 sqft lot
- 1921 build
- – on site
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.
Last checked:
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Last updated Dec 17, 2024
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MLS# NP24250696 —
The Building
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Year Built:1921
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Year Built Source:Public Records
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New Construction:No
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Building Area Total:7500.00
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Building Area Units:Square Feet
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Total Number Of Units:15
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Accessibility Features:2+ Access Exits
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Common Walls:No Common Walls
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# of Separate Gas Meters:5
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# of Separate Water Meters:5
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# of Separate Electric Meters:5
Interior
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Features:2 Staircases
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Entry Location:1
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Flooring:Carpet, Laminate
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Room Type:All Bedrooms Up, Entry
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Number Wall AC:11
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Fireplace:No
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Fireplace:None
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Laundry:None
Location
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Directions:Traveling North on Elm Ave., Turn Right on Elm Ave, Property is on the SE Corner of Elm & Broadway.
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Latitude:33.76914700
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Longitude:-118.18729000
The Property
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Property Type:Residential Income
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Subtype:Commercial/Residential
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Zoning:LBPD30
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Lot Features:Corner Lot, Rectangular Lot, No Landscaping
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Lot Size Area:3720.0000
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Lot Size Acres:0.0854
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Lot Size SqFt:3720.00
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Lot Size Source:Assessor
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:101
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Tax Census Tract:5760.01
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Tax Tract:576...
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Tax Lot:2
The Listing
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Special Listing Conditions:Standard, Trust
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Parcel Number:7281019008
Heating & Cooling
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Heating:1
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Heating:Central, Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:Microwave
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Included:Yes
The Community
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Subdivision:Downtown (DT)
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Subdivision:Downtown (DT)
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Neighborhood:East Village
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Features:Biking, Curbs, Gutters, Storm Drains, Street Lights, Urban
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Pool:None
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Senior Community:No
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Private Pool:No
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Assessments:Yes
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Assessments:Special Assessments
Parking
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Parking:None, Community Structure
Extra Units
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Average 1 Bed Area:250
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Average Studio Area:120
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/17/24
Dec 17, 2024
|
Listed / Active | CRMLS_CA | $1,895,000 |
