Listed by Tyler Leeson with Marcus & Millichap RE Invest

497 Saint Louis Avenue

Long Beach, CA, 90814

$9,500,000

$402 per ft²
$9,500,000
$402 per ft²
Pending
Pending
 - For Sale
carpenters-square
23,591 ft²
property_type
Multi-family
calendar
Built 1987
Saint Louis Apartments is a 30-unit value-add multifamily investment opportunity located in Long Beach, CA. Saint Louis Apartments offers a desirable mix of spacious one, two, and three-bedroom units featuring amenities including private patios and balconies, vinyl and carpet flooring, ceiling fans, and more. Built in 1987, the property features an attractive community amenities package including a subterranean parking garage offering 45 secured parking spaces and 27 spacious storage units, gated pedestrian access, on-site laundry, and an on-site leasing office. Long Beach’s continued strong rental metrics, including a 2022 vacancy rate of just 3.4 percent and year-over-year rent growth of 10.6 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area through unit interior renovations. With current rents below market rates, Saint Louis Apartments represents an attractive value-add opportunity for a new owner.
MLS® ID:
OC23034059
Listed:
2/27/23
Updated:
3/31/23

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area

Exterior/Building Features

Lot Size
0.48 acres lot
Lot Details
Street Level
Sewer
Public Sewer

Other Property Details

Area Name
699 - Not Defined
Association Amenities
Curbs, Sidewalks
Garage
Yes
Garage Spaces
45
Parking
Underground
Parking Total
45.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2
Zoning
LBR1N
Buyer Agency Compensation
1.750

Property History

Date
Event
Price
Value
3/16/23
Pending
-
-

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/31/23. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/31/23 at 9:20 PM UTC

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