23-Unit Apartment
New
For Sale
$5,150,000
830 Elm Avenue, Long Beach, CA 90813
Two buildings combine renovated residences, gated access, on-site laundry, and garage and surface parking.
Property Size16,624 SF
Lot Size0.36 Acres
Price / SF$309.79
Days on Market6
Property Features for 830 Elm Avenue
General Information
Standard status
Active
Size
16,624 SF
Total Parking Spaces
16
Lot size
0.36 Acres
Property subtype
Multi-family
Financials
Asking Price
$5,150,000
Cap Rate
6.72%
Gross Rent Multiplier
9.88
Site & Location
Neighborhood
Saint Marys
Units
Unit Mix
5 x 2BR/1BA, 18 x 1BR/1BA
Multifamily Units
23
Individually Metered Utilities
gas, electricity
Additional Details
Tenant in Place
Yes
Amenities
gated entry
on-site laundry room
Building Details
Year Built
1964
Buildings
2
Construction
wood frame
Listing Agency:
Realty Investment Advisors,Inc.
Listed By:
Alexander Metaxas · License #01784652
(626) 487-4300
Source:
Sevengables
Added: Oct 26
Changed: Oct 30
Last Checked: Oct 30 at 3:23PM
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 Realty Investment Advisors,Inc.
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Investment Insights
Based on property information with market context.
This 23-unit apartment property in Long Beach comprises two buildings totaling approximately 16,624 square feet on a 15,779-square-foot lot. The unit mix includes five two-bedroom, one-bathroom apartments and eighteen one-bedroom, one-bathroom apartments. Select units have updated kitchens with quartz countertops, modern cabinetry and stainless steel appliances, along with refreshed bathrooms and wood-style flooring. Deck work was completed in 2024, following copper re-piping in 2016.
Gated entry, an on-site laundry room and 16 parking spaces serve the property, including 12 enclosed garages and four surface spaces. Gas and electricity are separately metered. The property comprises two parcels and was built in 1964. Reported investment metrics include a 6.72% current capitalization rate and a 9.88 current gross rent multiplier.
Gated entry, an on-site laundry room and 16 parking spaces serve the property, including 12 enclosed garages and four surface spaces. Gas and electricity are separately metered. The property comprises two parcels and was built in 1964. Reported investment metrics include a 6.72% current capitalization rate and a 9.88 current gross rent multiplier.
Key Highlights
- 23 apartments: five two‑bedroom/one‑bathroom units and eighteen one‑bedroom/one‑bathroom units
- Two buildings totaling approximately 16,624 square feet on a 15,779‑square‑foot lot
- 16 parking spaces, including 12 enclosed garages and four surface spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$352,119
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,042,380
$7.0M
Cap Rate 7%
$5,030,271
$5.0M
Cap Rate 9%
$3,912,433
$3.9M
Market Conditions
NOI Build-Up for 16,624 SF
Gross rent
$668.3K $40.20/SF
− Vacancy
−$28.1K −$1.69/SF
EGI
$640.2K $38.51/SF
− OpEx
−$288.1K −$17.33/SF
NOI
$352.1K $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%
$7,042,380
Cap Rate 7%
$5,030,271
Cap Rate 9%
$3,912,433
Alternative Uses
Best Use
Apartment 5plus
$5.03M
$4.40M – $5.87M
NOI $352,119 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.46M
$4.78M – $6.37M
NOI $382,099 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
23
Residential units
Location Intelligence
Trade Area within ½ mile
5,153
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 - Two buildings combine renovated residences, gated access, on-site laundry, and garage and surface parking.
Where is this apartment building located?
The property is located at 830 Elm Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $5,150,000.
What are key features of this property?
This property features: 23 apartments: five two‑bedroom/one‑bathroom units and eighteen one‑bedroom/one‑bathroom units; Two buildings totaling approximately 16,624 square feet on a 15,779‑square‑foot lot; 16 parking spaces, including 12 enclosed garages and four surface spaces
