1036 Saint Louis, Long Beach, CA 90804
List Price: $2.35M
Listing Status: Active
Original List Price: $2.4M
0Days on Market: 99
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1963
Lot Size: 6,501 sq ft
Garage Spaces: 6
Private Pool: Yes
MLS Number: RS26052383
About This Property
$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.
Listing provided by: Andrew McAllister DRE #01946829 888-652-1314 drew@nrecommercial.com, eXp Realty of Greater L.A
Source: CRMLS, MLS #: RS26052383
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.