3520 Elm Ave, Long Beach, CA 90807

3520 Elm Ave, Long Beach, CA 90807

Long Beach, CA
$3,695,000

Property Description

3520 Elm Ave is a 12-unit building located in the Bixby Knolls/California Heights neighborhood of Long Beach. The building was built in 1962 and consists of 9,836 SF of living space situated on a 13,892 SF lot. 3520 Elm Ave offers a great unit mix consisting of (10) 2-Bed/1-Bath, (1) 1-Bed/1-Bath, and (1) Studio. The property has been well maintained and features twelve (12) total parking spots, consisting of five (5) single-car garages and seven (7) parking spaces. The property also features a community pool, coin-operated laundry facilities, gated entry, and beautifully landscaped seating areas. Located in one of the strongest rental markets in California, this is a perfect opportunity for a yield-focused investor looking to purchase an A+ asset.

Property Features

  • Sale Price: $3,695,000
  • Area Size: 9,836 SF
  • Land Area: 13,892 SF
  • Year Built: 1962
  • Listing Date: 2/10/2021
  • Closing Date: 6/17/2021
  • Units: 12
  • Current GRM: 15.14
  • Current Cap Rate: 4.15%
  • Price Per Unit: $307,917
  • Market GRM: 11.78
  • Market Cap Rate: 5.94%
  • Current NOI: $150,965

Lyon Stahl Investment Real Estate

Keep In Touch