245 E Artesia, Long Beach, CA 90805
Local realty services provided by:ERA Donahoe Realty
245 E Artesia,Long Beach, CA 90805
$1,695,000
- - Beds
- - Baths
- 6,437 sq. ft.
- Multi-family
- Active
Listed by: robert stepp
Office: keller williams realty downey562-334-1500
MLS#:PW26138649
Source:CRMLS
Price summary
- Price:$1,695,000
- Price per sq. ft.:$263.32
About this home
245 E. Artesia Boulevard presents the opportunity to acquire a well- maintained 5-unit multifamily asset with significant upside through future ADU development in a centrally located Long Beach neighborhood with convenient regional access. The property combines spacious floorplans, strong existing cash flow, and clear value-add potential, creating a compelling opportunity for both investors and potential owner/users. The property offers an attractive unit mix including (1) 3BD/2BA unit and (4) 2BD/2BA units, appealing to a broad tenant base seeking larger residential floorplans rarely found in today’s multifamily inventory. Units are bright and spacious, averaging approximately 1,287 square feet, providing a more residential living experience compared to typical apartment product in the area. The 3BD/2BA unit features dramatic high beam ceilings and an in-unit washer and dryer, further enhancing rental appeal and potential owner/user functionality. The property has undergone extensive interior improvements, including updated flooring and paint throughout all units. Additional capital improvements include a newer roof approximately three years old and partially updated electrical systems, helping reduce near-term capital expenditure requirements and supporting operational stability. Ownership also benefits from ancillary laundry income through owned on-site machines, while seven (7) garages provide additional parking income and further enhance tenant convenience and property functionality. A key component of the investment opportunity is the property’s future ADU development potential. Plans have been approved
for the addition of two new 2BD/1.5BA ADU units, providing investors with a clear path to materially increase future income
by approximately $60,000 annually. The ability to add density while leveraging the property’s existing infrastructure creates a rare opportunity to substantially increase long-term cash flow and overall asset value. The property benefits from exceptional regional connectivity with convenient access to the 710, 91, 105, and 405 Freeways, allowing tenants efficient commuter access throughout Los Angeles and Orange County employment centers. The location also provides convenient proximity to Long Beach Airport, major retail corridors, dining amenities, and everyday neighborhood services, supporting long-term tenant demand and occupancy stability....
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Home facts
- Year built:1968
- Listing ID #:PW26138649
- Added:1 day(s) ago
- Updated:July 01, 2026 at 06:33 PM
Rooms and interior
- Living area:6,437 sq. ft.
Structure and exterior
- Year built:1968
- Building area:6,437 sq. ft.
- Lot area:0.17 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,695,000
- Price per sq. ft.:$263.32
Features and amenities
- Appliances:Dryer, Washer
- Laundry features:Dryer, Washer
Parking
- Total parking spaces:7
- Garage:Yes
- Garage spaces:7
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