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Listed by Andrew McAllister, DRE #01946829 • eXp Realty of Greater L.A
$ 2,345,000
Est. payment /mo
Price Dropped by $25K
1036 Saint Louis Long Beach, CA 90804
6,501 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRRS26052383
Year Built 1963
Lot Size 6,501 Sqft
Source California Regional MLS
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.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Heating Wall Furnace
Cooling None
Laundry Laundry Area
Exterior
Parking Features Assigned Spaces, Garage
Garage Spaces 6.0
Pool None
Building
Water District - Public
Others
Tax ID 7262007010
Special Listing Condition Not Applicable
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