245 E Artesia, Long Beach, CA 90805
Well-maintained five-unit property with updated interiors, owned laundry, garages, and approved ADUs for added income.
- Added:
- Jul 5, 2026
- Days on Market:
- 5
- Last Refresh:
- Jul 6 at 2:27 am
Property Features for 245 E Artesia
General Information
- Standard status
- Active
- Size
- 6,435 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1968
Listing office Keller Williams Realty SELA (310) 774-3740
Listing date Jul 5, 2026
Source Elliman
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All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty SELA
HighLights
- 5‑unit multifamily built in 1968 with an attractive unit mix: one 3BD/2BA and four 2BD/2BA units
- Average unit size of approximately 1,287 SF; interior updates include updated flooring and paint throughout all units
- In‑unit washer/dryer in the 3BD/2BA unit; owned on‑site laundry machines provide ancillary laundry income
- Capital improvements include a newer roof about 3 years old and partially updated electrical systems
- Seven garages add potential parking income and tenant convenience
- Approved plans for two new 2BD/1.5BA ADU units to increase future income by approximately $60,000 annually
Overview
The property is positioned in a centrally located Long Beach neighborhood with convenient regional access. The remarks cite easy connectivity to the 710, 91, 105, and 405 freeways, along with proximity to Long Beach Airport and nearby retail corridors, dining options, and everyday neighborhood services. Walk and transit scores are reported as somewhat walkable and good transit, respectively.
From a tenant and operator standpoint, the mix of larger floorplans may appeal to residents seeking more space within a five-unit building. For buyers pursuing added value, the property has approved plans to add two new 2BD/1.5BA ADU units, creating a stated path to approximately $60,000 in additional annual income, while leveraging existing property infrastructure and parking resources.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $204.6k | $31.80 |
| − Vacancy | −$9.2k | −$1.43 |
| EGI | $195.4k | $30.37 |
| − OpEx | −$87.9k | −$13.67 |
| NOI | $107.5k | $16.70 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.1985828
- Latitude
- 33.8745723
