Student Housing Portfolio with 216
1761 Park Avenue Long Beach, CA 90815
1761 Park Avenue, Long Beach, CA, 90815
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For Sale
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Five well-located assets total 216 beds, leased on a furnished by-the-bed model.
Days on Market42
Property Features for 1761 Park Avenue
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agency
Stepp Commercial
(310) 463-2916
Listed by
Robert Stepp · License #CA 01456379
Source
Crexi
Added: Jun 10 Updated: Jul 21 at 7:54AM Checked: Jul 21 at 7:54AM
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Investment Insights
Based on property information with market context.
Stepp Commercial presents the Vibe Housing Long Beach off-campus student housing portfolio, consisting of five assets with a total of 216 beds. The portfolio uses a “by the bed” leasing model, renting furnished individual beds rather than entire units.
The portfolio is positioned to benefit from consistent demand tied to California State University, Long Beach (CSULB). The remarks note a supply-constrained on-campus housing environment, with an on-campus housing saturation rate of approximately 7–8% and 3,200–3,500 beds serving a student population exceeding 42,000. The profile is supported by continued enrollment growth, with CSULB reaching 42,003 students in the 2024–2025 academic year. The most recent admissions cycle is also cited as strong, with approximately 84,000 applications.
From an operating standpoint, the model described is designed around annual lease cycling aligned with the academic calendar and recurring student turnover, contributing to refreshed demand across the beds.
The portfolio is positioned to benefit from consistent demand tied to California State University, Long Beach (CSULB). The remarks note a supply-constrained on-campus housing environment, with an on-campus housing saturation rate of approximately 7–8% and 3,200–3,500 beds serving a student population exceeding 42,000. The profile is supported by continued enrollment growth, with CSULB reaching 42,003 students in the 2024–2025 academic year. The most recent admissions cycle is also cited as strong, with approximately 84,000 applications.
From an operating standpoint, the model described is designed around annual lease cycling aligned with the academic calendar and recurring student turnover, contributing to refreshed demand across the beds.
Key Highlights
- Five well‑located student housing assets total 216 beds, leased on a furnished by‑the‑bed model.
- By‑the‑bed leasing rents individual furnished beds rather than entire units, helping reduce roommate coordination.
- Portfolio demand supported by CSULB with on‑campus housing saturation estimated at ~7–8% and 3,200–3,500 on‑campus beds serving 42,000+ students.
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FAQs
What type of property is this?
Apartment building - Five well-located assets total 216 beds, leased on a furnished by-the-bed model.
Where is this apartment building located?
The property is located at 1761 Park Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $26,250,000.
What are key features of this property?
This property features: Five well‑located student housing assets total 216 beds, leased on a furnished by‑the‑bed model.; By‑the‑bed leasing rents individual furnished beds rather than entire units, helping reduce roommate coordination.; Portfolio demand supported by CSULB with on‑campus housing saturation estimated at ~7–8% and 3,200–3,500 on‑campus beds serving 42,000+ students.
