14-Unit Apartment Building with Gated
For Sale
$2,975,000
1430 Elm Avenue, Long Beach, CA 90813
Fourteen one-bedroom, one-bath apartments with a landscaped backyard, sun deck, and gated semi-subterranean parking.
Property Size9,690 SF
Price / SF$307.02
Days on Market129
Property Features for 1430 Elm Avenue
General Information
Standard status
Active
Size
9,690 SF
Property subtype
Multi-family
Site & Location
Neighborhood
Central
Units
Unit Mix
14 x 1BR/1BA
Multifamily Units
14
Amenities
sun deck
patio areas
landscaped backyard
gated parking
Building Details
Year Built
1930
Buildings
1
Construction
Spanish-style
Listing Agency:
Berkadia
Listed By:
Steffan Braunlich · License #CA 01859098
(310) 209-3209
Source:
Sevengables
Added: Jun 27
Changed: Nov 1
Last Checked: Nov 1 at 6:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkadia
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Investment Insights
Based on property information with market context.
This 14-unit apartment building offers 14 one-bedroom, one-bath apartments with an average unit size of 692 square feet. Built in 1930, the property features classic Spanish-style architecture and outdoor living areas including a sun deck and patio spaces. A landscaped backyard of approximately 3,500 square feet includes artificial turf and mature trees.
The property also includes gated semi-subterranean parking, supporting an efficient on-site layout. Recent infrastructure updates include new windows and updated water heaters.
Beyond current in-place performance, the property offers development optionality subject to city approval, including the ability to streamline expansion using Long Beach’s Pre Approved ADU Plans Program (AB 1332) or to leverage additional density pathways under recent state legislation (SB 1211).
The property also includes gated semi-subterranean parking, supporting an efficient on-site layout. Recent infrastructure updates include new windows and updated water heaters.
Beyond current in-place performance, the property offers development optionality subject to city approval, including the ability to streamline expansion using Long Beach’s Pre Approved ADU Plans Program (AB 1332) or to leverage additional density pathways under recent state legislation (SB 1211).
Key Highlights
- 14 one‑bedroom, one‑bath apartments with 692 SF average unit size
- Gated semi‑subterranean parking
- Landscaped backyard of approx. 3,500 SF with artificial turf and mature trees
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$205,248
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,104,960
$4.1M
Cap Rate 7%
$2,932,114
$2.9M
Cap Rate 9%
$2,280,533
$2.3M
Market Conditions
NOI Build-Up for 9,690 SF
Gross rent
$389.5K $40.20/SF
− Vacancy
−$16.4K −$1.69/SF
EGI
$373.2K $38.51/SF
− OpEx
−$167.9K −$17.33/SF
NOI
$205.2K $21.18/SF
Area
ZIP 90813
Vacancy
4.20%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,104,960
Cap Rate 7%
$2,932,114
Cap Rate 9%
$2,280,533
Alternative Uses
Best Use
Apartment 5plus
$2.93M
$2.57M – $3.42M
NOI $205,248 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.18M
$2.78M – $3.71M
NOI $222,723 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
3,203
Businesses Nearby
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Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fourteen one-bedroom, one-bath apartments with a landscaped backyard, sun deck, and gated semi-subterranean parking.
Where is this apartment building located?
The property is located at 1430 Elm Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,975,000.
What are key features of this property?
This property features: 14 one‑bedroom, one‑bath apartments with 692 SF average unit size; Gated semi‑subterranean parking; Landscaped backyard of approx. 3,500 SF with artificial turf and mature trees
