1518 E Artesia, Long Beach, CA 90805
Local realty services provided by:ERA North Orange County Real Estate
1518 E Artesia,Long Beach, CA 90805
$6,250,000
- - Beds
- - Baths
- 17,741 sq. ft.
- Multi-family
- Active
Listed by: w. kurt wood
Office: belmont brokerage & mgmt. inc.
MLS#:PW25247306
Source:CRMLS
Price summary
- Price:$6,250,000
- Price per sq. ft.:$352.29
About this home
30-Unit Apartment Community | Prime North Long Beach Location ***$200,000 price reduction***
Investment Overview:
This is a rare opportunity to acquire a 30-unit multifamily property strategically located in the vibrant and improving North Long Beach rental market. The property consists entirely of one-bedroom, one-bath units—a unit mix that remains among the most consistently in-demand and easy to lease in the area. With high tenant retention and historically low vacancy, this asset provides a stable income stream and strong long-term appreciation potential.
Property Highlights:
30 One-Bedroom / One-Bath Units – Highly sought-after floorplans offering functional layouts and reliable tenant demand. Ample Parking & Additional Income – Thirteen (13) garages and nine (9) off-street parking spaces generate supplemental revenue and tenant convenience. On-Site Laundry Facilities – Well-maintained common laundry areas add another source of ancillary income. Separately Metered Utilities – Each unit is individually metered for gas and electricity, reducing ownership expenses and simplifying management. Excellent Access – Centrally located with easy access to major freeways, employment centers, schools, and retail corridors.
ADU Development Potential:
Preliminary assessments indicate that the property may accommodate an additional 5 to 6 Accessory Dwelling Units (ADUs)—subject to verification by a qualified general contractor and city approval. At an estimated market rent of $1,820 per month per ADU, this expansion could add approximately $109,200 in annual income and potentially increase the property’s value by over $1,092,000, offering significant upside for an investor with a value-add or development strategy. This additional ADU income would effectively bring down the property's GRM to approximately 8.5.
Financial Summary:
Asking Price: $6,250,000 (equivalent to approximately $208,333 per unit). Gross Rent Multiplier (GRM): 9.9
Upside Potential: Future ADU income + continued North Long Beach growth
Investment Summary:
This well-maintained apartment community represents a lucrative investment opportunity in a supply-constrained submarket with strong rental demand. Its combination of in-place income, low expense ratio, and meaningful upside potential through ADU expansion make it an attractive acquisition for both private investors and portfolio operators seeking stable yield and appreciation.
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Home facts
- Year built:1955
- Listing ID #:PW25247306
- Added:51 day(s) ago
- Updated:December 19, 2025 at 02:27 PM
Rooms and interior
- Living area:17,741 sq. ft.
Structure and exterior
- Roof:Composition
- Year built:1955
- Building area:17,741 sq. ft.
- Lot area:0.09 Acres
Utilities
- Sewer:Public Sewer
Finances and disclosures
- Price:$6,250,000
- Price per sq. ft.:$352.29
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