Description
This charming 1930s Spanish-style apartment complex in the heart of Long Beach offers a rare opportunity to own a piece of the citys 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 $2.6 million to $2.3 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 Beachs 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.
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School Ratings & Info
Description
This charming 1930s Spanish-style apartment complex in the heart of Long Beach offers a rare opportunity to own a piece of the citys 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 $2.6 million to $2.3 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 Beachs 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.
Based on information from California Regional Multiple Listing Service, Inc. as of 2024-10-14T15:31:05.67. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Pushpa Nagaraj Team | Compass. Licensed in the State of California, USA.