Long Beach, CA 90805,1518 E Artesia
Long Beach, CA 90805,1518 E Artesia
Long Beach, CA 90805,1518 E Artesia
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$5,999,000
Est. payment /mo
3,815 Sqft Lot
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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID PW25247306

HOA Y/N No

Year Built 1955

Lot Size 3,815 Sqft

Property Sub-Type Apartment

Property Description

30-Unit Apartment Community | Prime North Long Beach Location ***Price reduced from $6,450,000 to $5,999,000*** New GRM = 9.5***
Investment Overview:
This is a rare opportunity to acquire a 30-unit multifamily property strategically located in the vibrant and improving North Long Beach rental market. The property consists entirely of one-bedroom, one-bath units—a unit mix that remains among the most consistently in-demand and easy to lease in the area. With high tenant retention and historically low vacancy, this asset provides a stable income stream and strong long-term appreciation potential.

Property Highlights:
30 One-Bedroom / One-Bath Units – Highly sought-after floorplans offering functional layouts and reliable tenant demand. Ample Parking & Additional Income – Thirteen (13) garages and nine (9) off-street parking spaces generate supplemental revenue and tenant convenience. On-Site Laundry Facilities – Well-maintained common laundry areas add another source of ancillary income. Separately Metered Utilities – Each unit is individually metered for gas and electricity, reducing ownership expenses and simplifying management. Excellent Access – Centrally located with easy access to major freeways, employment centers, schools, and retail corridors.

ADU Development Potential:
Preliminary assessments indicate that the property may accommodate an additional 5 to 6 Accessory Dwelling Units (ADUs)—subject to verification by a qualified general contractor and city approval. At an estimated market rent of $1,820 per month per ADU, this expansion could add approximately $109,200 in annual income and potentially increase the property's value by over $1,092,000, offering significant upside for an investor with a value-add or development strategy. This additional ADU income would effectively bring down the property's GRM to approximately 8.1.

Financial Summary:
Asking Price: $5,999,000 (equivalent to approximately $199,996 per unit). Gross Rent Multiplier (GRM): 9.5 based on actual rents.
Upside Potential: Future ADU income + continued North Long Beach growth

Investment Summary:
This well-maintained apartment community represents a lucrative investment opportunity in a supply-constrained submarket with strong rental demand. Its combination of in-place income, low expense ratio, and meaningful upside potential through ADU expansion make it an attractive acquisition for investors seeking stable yield and appreciation.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Interior

Cooling None

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned

Garage Spaces 13.0

Garage Description 13.0

Pool None

Community Features Suburban, Sidewalks

View Y/N No

View None

Roof Type Composition

Accessibility None

Total Parking Spaces 22

Private Pool No

Building

Lot Description Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Architectural Style Contemporary

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7114010051

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Read Less Info
CRMLS – RECore
Listed by W. Kurt Wood Belmont Brokerage & Mgmt. INC. 562-301-6763

NEARBY SCHOOL & BUSINESS

SCHOOLS PROPERTIES
Elementary Schools 20
  • 8

    Madison Elementary School

    Public | KG - 5

  • 8

    Lincoln Elementary School

    Public | KG - 5

  • 8

    Ward Elementary

    Public | KG - 3

  • 8

    Intensive Learning Center

    Public | KG - 6

  • 8

    Stephen Foster Elementary

    Public | KG - 6

  • 7

    Holmes Elementary School

    Public | KG - 5

  • 7

    Albert Baxter Elementary

    Public | KG - 6

  • 6

    Colin Powell Academy

    Public | KG - 8

  • 6

    Starr King Elementary School

    Public | KG - 5

  • 6

    Colin P. Kelly Elementary School

    Public | KG - 8

  • 6

    Mark Twain Elementary School

    Public | KG - 6

  • 6

    William Jefferson Clinton Elementary School

    Public | KG - 8

  • 6

    Keppel Elementary School

    Public | KG - 5

  • 6

    Hollydale School

    Public | KG - 8

  • 6

    Gaines Elementary School

    Public | KG - 3

  • 6

    McKinley Elementary School

    Public | KG - 5

  • 6

    Riley Elementary School

    Public | KG - 5

  • 6

    Jefferson Elementary School

    Public | KG - 5

  • 6

    Twain Elementary School

    Public | KG - 5

  • 6

    Carpenter Elementary School

    Public | 4 - 5

Middle Schools 16
  • 6

    Hamilton Middle School

    Public | 6 - 8

  • 6

    Bancroft Middle School

    Public | 6 - 8

  • 5

    Lynwood Middle School

    Public | 7 - 8

  • 5

    Lindbergh STEM Academy

    Public | 6 - 8

  • 5

    Frank J. Zamboni Middle School

    Public | 6 - 8

  • 5

    Paramount Park Middle School

    Public | 6 - 8

  • 5

    Hoover Middle School

    Public | 6 - 8

  • 4

    Lifeline Education Charter

    Public | 6 - 12

  • 4

    Rancho Dominguez Preparatory School

    Public | 6 - 12

  • 4

    Perry Lindsey Academy

    Public | 6 - 8

  • 4

    Alondra Middle School

    Public | 6 - 8

  • 3

    Franklin D. Roosevelt Middle School

    Public | 6 - 8

  • 1

    Franklin S. Whaley Middle School

    Public | 6 - 8

  • 1

    Paramount Alternative Education Center

    Public | 6 - 12

  • 0

    Paramount Unified Community Day

    Public | 7 - 12

  • 0

    Somerset Continuation High School

    Public | 7 - 12

High Schools 8
  • 5

    Paramount High School

    Public | 9 - 12

  • 3

    Marco Antonio Firebaugh High School

    Public | 9 - 12

  • 1

    Jordan High School

    Public | 9 - 12

  • 1

    Dominguez High School

    Public | 9 - 12

  • 0

    Compton Unified Regional Occupational Program

    Public | 9 - 12

  • 0

    St Piusx-St.Matthias Academy

    Private | 9 - 12

  • 0

    Buena Vista High School

    Public | 9 - 12

  • 0

    Los Angeles County Regional Occupational Program

    Public | 9 - 12

School and business data provided by Attom Data.

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