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Listed by Robert Stepp, DRE #01456379 • Keller Williams Realty Downey
$ 8,000,000
Est. payment /mo
Active
1761 Park AVE Long Beach, CA 90815
0.37 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26215271
Year Built 1963
Lot Size 0.373 Acres
Source California Regional MLS
Property Description
STUDENT HOUSING OPPORTUNITY - 64 BEDS + 8 BEDS = 72 MAX BEDS. 7.47% CURRENT CAP, WITH MARKET CAP RATE AT 8.63%-9.14%! Park Villa Apartments, an 18-unit / 64-bed off-campus student housing asset serving California State University, Long Beach (CSULB). The property operates under a "by-the-bed" leasing model commonly used in purpose-built student housing, offering furnished individual beds rather than leasing entire units. This structure provides students greater flexibility while generating higher effective rents per unit and diversified cash flow for ownership. Park Villa Apartments features (4) 3BD/2BA, (2) 2BD/2BA, (10) 2BD/1BA and (2) 1BD/1BA units surrounding a landscaped courtyard, along with on-site laundry, eight garages and 12 tandem surface parking spaces. Comprehensive renovations completed in 2023 include upgraded electrical and plumbing systems, new dual-pane windows, laminate flooring, shaker-style cabinetry, quartz countertops, stainless steel appliances, updated bathrooms, modern lighting, ceiling fans and fixtures throughout. The property is located near Long Beach's Traffic Circle, providing walkable access to extensive retail, dining and everyday services. Its proximity to CSULB and the 405 Freeway also provides convenient connectivity throughout Long Beach, the
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Laundry Laundry Area
Exterior
Parking Features Garage
Garage Spaces 20.0
Pool None
Building
Water District - Public
Others
Tax ID 7220002040
Special Listing Condition Not Applicable
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