5-Unit Multifamily with ADU
245 E Artesia Long Beach, CA 90805
245 E Artesia, Long Beach, CA, 90805
$1,695,000
For Sale
$1,695,000
Well-maintained five-unit property with updated interiors, owned laundry, garages, and approved ADUs for added income.
Property Size6,435 SF
Price / SF$263.40
Days on Market16
Property Features for 245 E Artesia
General Information
- Standard status
- Active
- Size
- 6,435 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1968
Listing Agency
Keller Williams Realty SELA
(310) 774-3740
Listed by
Robert Stepp · License #01456379
(310) 774-3740
Source
Elliman
Added: Jul 5 Checked: Jul 19 at 6:15 am
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 Keller Williams Realty SELA
Investment Insights
Based on property information with market context.
245 E Artesia Boulevard is a well-maintained five-unit multifamily asset featuring a unit mix of one 3BD/2BA and four 2BD/2BA residences. The layouts are described as spacious and bright, including a 3BD/2BA unit with high beam ceilings and an in-unit washer and dryer. Interior improvements include updated flooring and fresh paint throughout all units. Additional capital updates include a newer roof installed approximately three years ago and partially updated electrical systems. On-site laundry is supported by owned machines that generate ancillary income, and the property also includes seven garages to support tenant parking.
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.
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.
Key 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
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 |
6,435 SF · lease $31.80/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,483 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $134,919 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
$ Vizion
Clothing Store
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained five-unit property with updated interiors, owned laundry, garages, and approved ADUs for added income.
Where is this apartment building located?
The property is located at 245 E Artesia Long Beach, CA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 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
