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Property

Long Beach, CA 90807 3430 Elm Avenue

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Presented By: Maty Guiza with Realty One Group West; 949-302-6990
  • MLS# OC24133197
  • 06/28/2024
  • Request Tour
  • Request Info
  • SQFT • 56,690
  • Year Built • 1964

Home Details

Back on the Market: This is a great opportunity for a buyer who can perform! There is only UPSIDE HERE! Discover an exceptional investment opportunity in Bixby with this well-maintained multi-family residential income portfolio. This portfolio presents an attractive opportunity consisting of 28 2-bedroom units, each offering 1.5 or 1.75 baths. Building 1: 3430 ELM AVENUE 14 units all 2 bedrooms and 1.5 bath Building 2: 3440 ELM AVENUE: 14 units all 2 bedrooms and 1.75 bath **Key Features:** - **Location:** Conveniently situated close to freeways and downtown Bixby, providing easy access to amenities and commuter routes. Atlantic and Wardlow, 405 Highway, Metrolink, and public transportation are available. They are close to hospitals, retail shopping centers, and parks. - **Unit Configuration:** All units are spacious 2-bedroom layouts, designed to appeal to a wide range of tenants seeking comfort and convenience. Units can be renovated to generate higher market rent. - **Maintenance:** Well-maintained buildings with recent updates. New Boiler in 3430, Resident Manager on-site. Newly updated units. - **Community Amenities:** Nearby parks, shopping, dining, and entertainment options enhance tenant satisfaction and attract potential renters. - **Parcel Details:** Comprising two separate parcels sold as one portfolio, providing flexibility and potential for future development or management strategies.
Presented By: Maty Guiza with Realty One Group West; 949-302-6990

Interior Features for 3430 Elm Avenue

Other Interior Features

Air Conditioning Y/NYes
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
LivingAreaSourceSeeRemarks
Total Stories2

Other Rooms

Entry Level1

General for 3430 Elm Avenue

Additional Parcels Description7145011013
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate3.65
Carport Y/NNo
CityLong Beach
Community FeaturesGated
Construction MaterialsDrywall, Concrete, Stucco
CoolingWallWindowUnits
CountyLos Angeles
Current FinancingNone
Current UseResidential
Directions405 Exit Atlantic or Wardlow
ElectricStandard
Electric Expense6758.0
Electric On Property Y/NNo
Garage Y/NNo
HOANo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense20800.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, Conventional, Submit
Lot Size Square Feet28114.0
Lot Size UnitsSquareFeet
MLS Area6 - Bixby, Bixby Knolls, Los Cerritos
MaintenanceExpense2500.0
MobileHomeRemainsYNNo
Net Operating Income319325.0
New ConstructionNo
Number Of Units Total28
Number of Units Leased26
Occupancy TypeTenant
Operating Expense273794.0
Property Attached Y/NNo
Property Sub Type AdditionalMultiFamily
Property SubtypeMultiFamily
Property TypeCommercialSale
Rent Control Y/NNo
RoofComposition
Security FeaturesGatedCommunity, ResidentManager, SmokeDetectors
Senior Community Y/NNo
Special Listing ConditionsTrust
Standard StatusActive
StatusActive
Tax Annual Amount22992.0
Tax Year2023
Trash Expense18443.0
UtilitiesElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected, WaterConnected
Water Sewer Expense17117.0
Waterfront Y/NNo
Year Built1964
ZoningLB4RN

Exterior for 3430 Elm Avenue

Building Area Total56690.0
Crops Included Y/NNo
FencingSecurity
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre, NearPublicTransit
Lot Size Acres0.6454
Lot Size Area28114.0
Lot Size SourceSeeRemarks
LotDimensionsSourceAssessor
Number of Buildings2
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking24.0
Water SourcePublic

Additional Details

Price History

Alexandra Eston

Sales Associate
Price $8,750,000
MLS#OC24133197
List Date 06/28/2024
Property Type Commercial
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