1036 Saint LouisLong Beach, CA 90804

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.

Property Information

Property type

Residential Income

Sub-type

Mixed Use

Year built

1963

Stories

2

Building area

6,770 Sq Ft

Lot size

0.15 acres

Garage spaces

6

Parking spaces

6

Days on market

205

MLS^® Listing#

RS26052383

Property Features

Cooling

None

Heating

Wall Furnace

Fireplace

None

Pool

None

Parking

Assigned · Garage

Laundry

Common Area

Roof

Mixed · Tar/Gravel

Community

Curbs · Street Lights · Sidewalks

Utilities

Cable Connected · Electricity Connected · Natural Gas Connected · Sewer Connected · Water Connected

Sewer

Public Sewer

Water source

Public

Financial Details

HOA

None

Parcel number

7262007010

Directions

10th Street & Saint Louis Avd