Description

We are pleased to present 3520 Elm Avenue, Long Beach CA 90807, a 14-unit building located in one of Southern California's most desirable rental markets. This property represents a unique opportunity for an investor with 15% upside in NOI - a 4.85% cap current, and upside to 6.13% & the low current GRM of 13.83 with upside to 11.62 GRM. 3520 Elm has a great unit mix of over 70% 2-Bedroom units, along with attractive tenant amenities including parking, laundry, a pool, and walkability. The building is situated on a quiet street, surrounded by well-maintained residential properties and close to an array of local amenities, including shopping, dining, and entertainment options. Commuting is a breeze, with convenient access to major highways and public transportation options. The 14 units consist of thoughtfully designed spacious floor plans boasting features such as hardwood floors, original moldings, and large windows that fill the rooms with natural light. These units have the potential to be finished as high-end rentals that will attract top-tier tenants and returns. With its prime location and value-add potential, 3520 Elm Avenue is poised to be a high yielding asset for years to come.