245 E Artesia, Long Beach, CA 90805
245 E Artesia, Long Beach, CA 90805
245 E Artesia, Long Beach, CA 90805
245 E Artesia, Long Beach, CA 90805
245 E Artesia, Long Beach, CA 90805
245 E Artesia, Long Beach, CA 90805
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$ 1,695,000
Est. payment | /mo

7,387 Sqft Lot


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$ 1,695,000
Est. payment | /mo
Save

7,387 Sqft Lot

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID PW26138649

HOA Y/N No

Year Built 1968

Lot Size 7,387 Sqft

Property Sub-Type Mixed Use

Property Description

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.

Location

State CA

County Los Angeles

Area 7 - North Long Beach

Interior

Fireplace No

Appliance Dryer, Washer

Exterior

Garage Spaces 7.0

Garage Description 7.0

Pool None

Community Features Sidewalks

Total Parking Spaces 7

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7303013039

Energy Description 1350.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379

Nearby School & Business

Christopher Rubio-Novack

+1(310) 467-7189

rubio.realestate@gmail.com

2603 Camino Ramon Suite 200, San Ramon, CA, 94583

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