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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$3,100,000

Est. payment - /mo

10,754 Sqft Lot

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UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Bixby Knolls (Bk)

MLS Listing ID PW26208894

HOA Y/N No

Year Built 1977

Lot Size 10,754 Sqft

Property Sub-Type Apartment

Property Description

We are pleased to present 4126 Elm Ave, an 8 unit condo-quality trophy investment opportunity in Long Beach's Bixby Knolls. Built in 1977, the two-story building sits just two blocks off of the Atlantic Avenue corridor and just a few miles from the ocean and Downtown Long Beach.

The 9,761 SF building sits on a 10,755 SF lot with an unusually large unit mix: three 1+1 units, four 2+2 units and one 3+2.5 owner's unit, with the average SF of each unit being roughly 1,220 SF. Each unit has its own fireplace, heating and air conditioning, patio or balcony and garage parking, which is currently provided at no charge, providing immediate additional upside for a new buyer.

Current rents average $2,256 against market rents of $3,008 — about 33% of upside — taking the property from a 4.23% cap rate to 6.91% pro forma. Bixby Knolls is a Walk Score 84 neighborhood anchored by the Atlantic Avenue corridor, SteelCraft Long Beach and the Expo Arts Center, with the 405 a mile south and Long Beach Airport under four miles away.

Location

State CA

County Los Angeles

Area 6 - Bixby, Bixby Knolls, Los Cerritos

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 9.0

Garage Description 9.0

Pool None

Community Features Curbs, Golf, Park, Suburban

Total Parking Spaces 10

Private Pool No

Building

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7139007005

Energy Description 1990.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Ryan Gonzalez Lyon Stahl Investment Real Est ryan.gonzalez@lyonstahl.com, DRE #01874815

NEARBY SCHOOL & BUSINESS

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4126 Elm Ave Long Beach, CA 90807