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Listed by Andrew McAllister • eXp Realty of Greater L.A
$3,390,000
Est. payment /mo
8,203 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,203 sqft
Price per Sqft $413
MLS Listing ID CRRS25135898
HOA Y/N No
Year Built 1963
Lot Size 7,507 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
Welcome to The Louis – A renovated multifamily asset located in the heart of Long Beach, CA. This well-maintained 12-unit property is comprised of (2) spacious 2-bedroom/1-bath units and (10) 1-bedroom/1-bath units, all of which were extensively remodeled with permits in 2019. Interiors feature modern finishes, and the units remain in excellent condition. That same year, the exterior received a full facelift, including new paint and a refreshed façade, enhancing the building’s curb appeal. The property benefits from a stable tenant base, with approximately 9% rental upside remaining, offering investors immediate cash flow and future growth potential. Additionally, there are (6) on-site garages that present a compelling value-add opportunity: potential conversion into (3) ADUs (Accessory Dwelling Units), subject to Buyer verification. The Louis offers a rare blend of of an updated building, long-term tenancy, and upside in one of Long Beach’s most active rental markets.
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Common Area
Building
Lot Description Level, Paved
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