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$2,100,000
Est. payment /mo
6,250 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID DW25152944
HOA Y/N No
Year Built 1930
Annual Tax Amount $13,777
Tax Year 2023
Lot Size 6,250 Sqft
Property Sub-Type Multi Family
Property Description
This charming 1930s Spanish-style apartment complex in the heart of Long Beach offers a rare opportunity to own a piece of
the city's history. Featuring 10 units, a mix of single and studio apartments, the property spans 6,247 square feet of living
space on a 6,261 square foot lot. Each unit retains the original architectural charm of the era, highlighted by intricate details
and timeless design elements. The building has been well-maintained, with thoughtful updates made to ensure it meets modern standards of comfort while preserving its vintage allure. Investors will appreciate the recent price adjustment from
$2.3 million to $2.1 million, presenting a unique value proposition for a property in this highly desirable area. Additionally,
recent rent increases offer the potential to reach pro forma rents, further maximizing the return on investment. Situated in one
of Long Beach's most vibrant neighborhoods, residents enjoy convenient access to local parks, shopping, dining, and the scenic
Long Beach Shoreline. This property provides not just an income-generating asset but also a tangible piece of Long Beach's
rich architectural heritage. Whether you're looking to enhance your investment portfolio or acquire a unique property in a
prime location, 770 St Louis Ave stands out as a smart and rewarding acquisition.
the city's history. Featuring 10 units, a mix of single and studio apartments, the property spans 6,247 square feet of living
space on a 6,261 square foot lot. Each unit retains the original architectural charm of the era, highlighted by intricate details
and timeless design elements. The building has been well-maintained, with thoughtful updates made to ensure it meets modern standards of comfort while preserving its vintage allure. Investors will appreciate the recent price adjustment from
$2.3 million to $2.1 million, presenting a unique value proposition for a property in this highly desirable area. Additionally,
recent rent increases offer the potential to reach pro forma rents, further maximizing the return on investment. Situated in one
of Long Beach's most vibrant neighborhoods, residents enjoy convenient access to local parks, shopping, dining, and the scenic
Long Beach Shoreline. This property provides not just an income-generating asset but also a tangible piece of Long Beach's
rich architectural heritage. Whether you're looking to enhance your investment portfolio or acquire a unique property in a
prime location, 770 St Louis Ave stands out as a smart and rewarding acquisition.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Wall Furnace
Fireplace No
Laundry None
Exterior
Roof Type Shingle
Present Use Multi-Family
Building
Lot Description 6-10 Units/Acre
Story 2
Water Public
Others
Tax ID 7262023018
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional
Special Listing Condition Standard
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Listed by Julio Bonilla Keller Williams Pacific Estate 562-355-8060