1036 Saint Louis Ave - Apartments FOR SALE


Long Beach, CA 90804- Eastside Long Beach
$2,395,000 USD
925-683-9203
1036 Saint Louis Ave, Long Beach, CA for Sale
$2,395,000 USD
Apartments - FOR SALE
1/19
null | 6.23% Cap Rate

1036 Saint Louis Ave
Long Beach, CA 90804
Eastside Long Beach


HIGHLIGHTS

  • $128,962.75 Spent on Capital Improvements
  • New 400 AMP Main Electrical Panel, SB 721 Balcony Compliance & Partial Main Sewer Line Replacement in 2025
  • 3 Out of 9 Units are Fully Renovated
  • 10.46 GRM & 6.23% Cap Rate
  • 13% Upside in Rents - Pro Forma 7.42% Cap Rate
  • (6) On-Site Garages

OVERVIEW

9-unit apartment complex in Eastside Long Beach with an exceptional large-unit mix: (1) 3BD/2BA, (6) 2BD/1BA, (2) 1BD/1BA. Strong in-place income with upside through continued unit renovations (3 of 9 units already remodeled). $129,000 in capital improvements including new 400A main electrical panel (2025), partial main sewer line replacement (2025), SB 721 balcony compliance/repairs (2025), and roof repairs (2024). 6 garages, separately metered electric/gas, owner pays water/sewer/trash. Offered at a 6.23% cap / 10.46 GRM with projected 7.26% cap at market. Not subject to local rent control (AB 1482 applies).

FOR SALE DETAILS

PRICE

$2,395,000 USD

PRICE/SF

$354 USD /SF

# OF UNITS

9

PRICE/UNIT

$266,111

CAP RATE

6.23%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6.23% Cap + 10.46 GRM | 7.42% Pro Forma

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,674 SF

ZONING

LBR2N LBR2N

APN/PARCEL ID

7262-007-010

ASK ABOUT THIS PROPERTY

Drew McAllisterNRE CommercialMore Info
925-683-9203

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Drew McAllisterNRE CommercialMore Info
925-683-9203

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.