Property Details
About this Property
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. Th
MLS Listing Information
MLS #
CRNP24250696
MLS Source
California Regional MLS
Days on Site
7
Interior Features
Appliances
Microwave
Flooring
Laminate
Laundry
None
Cooling
Window/Wall Unit
Heating
Central Forced Air, Wall Furnace
Parking, School, and Other Information
Garage/Parking
Common Parking - Shared, No Parking, Garage: 0 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 14 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
154 Elm Ave is a Residential Income in Long Beach, CA 90802. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,895,000 and was built in 1921. This address can also be written as 154 Elm Ave, Long Beach, CA 90802.
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This listing information is up-to-date as of December 17, 2024. For the most current information, please contact Joshua Coburn
