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$ 3,100,000
Est. payment | /mo
6 Beds
6 Baths
10,757 Sqft Lot
$ 3,100,000
Est. payment | /mo
6 Beds
6 Baths
10,757 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Bixby Knolls (Bk)
MLS Listing ID PW26208894
Bedrooms 6
Lot Size 10,757 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present 4126 Elm Ave, an 8 unit condo-quality trophy investment opportunity in Long Beach's Bixby Knolls. Built in 1977, the two-story building sits just two blocks off of the Atlantic Avenue corridor and just a few miles from the ocean and Downtown Long Beach. The 9,761 SF building sits on a 10,755 SF lot with an unusually large unit mix: three 1+1 units, four 2+2 units and one 3+2.5 owners unit, with the average SF of each unit being roughly 1,220 SF. Each unit has its own fireplace, heating and air conditioning, patio or balcony and garage parking, which is currently provided at no charge, providing immediate additional upside for a new buyer. Current rents average $2,256 against market rents of $3,008 about 33% of upside taking the property from a 4.23% cap rate to 6.91% pro forma. Bixby Knolls is a Walk Score 84 neighborhood anchored by the Atlantic Avenue corridor, SteelCraft Long Beach and the Expo Arts Center, with the 405 a mile south and Long Beach Airport under four miles away.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction North of Carson Between Atlantic Ave & Long Beach Blvd
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7139007005
Acceptable Financing Cash
Listing Terms Cash
Listed by Ryan Gonzalez, DRE#01874815 Lyon Stahl Investment Real Est
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