1036 Saint Louis, Long Beach, CA 90804
- $2,345,000
- List Price
- $2,345,000
- Price Change
- ▼ $25,000 1781725920
- Status
- ACTIVE
- MLS#
- RS26052383
- Year Built
- 1963
- Lot Size
- 6,501
- Acres
- 0.15
- Days on Market
- 140
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Neighborhood
- Eastside (Es)
Property Description
$50,000 price reduction - now offered at a 6.40% current cap rate. 1036 Saint Louis Ave is a 9-unit Eastside Long Beach apartment property featuring an attractive large-unit mix of (1) 3BD/2BA, (6) 2BD/1BA, and (2) 1BD/1BA units. The asset offers strong in-place income with approximately 13% remaining rental upside and a projected 7.60% pro forma cap rate through continued interior renovations and garage income optimization. The property has benefited from approximately $129,000 in recent capital improvements, including a new 400A main electrical panel, partial main sewer line replacement, SB 721 balcony compliance/repairs, roof repairs, and three completed unit renovations. Additional features include 6 on-site garages, separately metered electric/gas, and landlord-paid water/sewer/trash. No local rent control; statewide AB 1482 applies.
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Additional Information
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- Roof
- Mixed, Tar/Gravel
- Garage Spaces Total
- 6
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 9
- Gross Scheduled Income
- $229,274
- Operating Expense
- 72629
Listing courtesy of Listing Agent: Andrew McAllister (drew@nrecommercial.com) from Listing Office: eXp Realty of Greater L.A.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.