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Listed by Woody Stahl • Lyon Stahl Investment Real Est
$ 2,300,000
Est. payment /mo
Active
3301 East Artesia Boulevard Long Beach, CA 90805
7,034 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 7,034 sqft
Price per Sqft $326
Subdivision North Long Beach
MLS Listing ID PW-25163975
Year Built 1952
Lot Size 0.353 Acres
Property Sub-Type Commercial/Residential
Property Description
3301 E Artesia Blvd offers a compelling opportunity to acquire a 9-unit multifamily asset in the heart of North Long Beach, a submarket experiencing steady tenant demand and ongoing revitalization. The property is comprised of two buildings: a standalone 3-bedroom/2-bath front house and a rear 8-unit structure with a mix of five 2-bedroom/1-bath units and three 1-bedroom/1-bath units. It includes 20 total parking spaces, a nice feature in this dense rental pocket. Built in 1952, the asset delivers immediate cash flow with a strong in-place 5.95% CAP and 10.79 GRM. Market projections indicate further upside, with a 7.75% market CAP and 8.96 GRM achievable through modest rent increases. Priced at just $255,000 per unit, the offering presents an attractive cost basis with room for growth. Centrally located with quick access to the 91 and 710 freeways, 3301 E Artesia Blvd is well-positioned to benefit from Long Beach's continued growth in population, infrastructure, and housing demand. For investors seeking day-one income with long-term upside potential, this is a valuable opportunity in a high-demand rental corridor.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR4N
Interior
Laundry Common Area
Exterior
Parking Features Gated
Pool None
Community Features Biking
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944