$50,000 price reduction - now offered at a 6.40% current cap rate. 1036 Saint Louis Ave is a 9-unit Eastside Long Beach apartment property featuring an attractive large-unit mix of (1) 3BD/2BA, (6) 2BD/1BA, and (2) 1BD/1BA units. The asset offers strong in-place income with approximately 13% remaining rental upside and a projected 7.60% pro forma cap rate through continued interior renovations and garage income optimization. The property has benefited from approximately $129,000 in recent capital improvements, including a new 400A main electrical panel, partial main sewer line replacement, SB 721 balcony compliance/repairs, roof repairs, and three completed unit renovations. Additional features include 6 on-site garages, separately metered electric/gas, and landlord-paid water/sewer/trash. No local rent control; statewide AB 1482 applies.
| MLS # | RS26052383 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1963 |
| Days On Site | 170 |
| Listing Provided By | eXp Realty of Greater L.A | Andrew McAllister |
| SQ Feet | 6,770 |
|---|---|
| Garage | 6 |
| Story(s) | 2 |
| Units | 9 |
| Building(s) | 1 |
| Acreage | 0.15 |
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Fireplace Yes / No | No |
| Roof | Mixed, Tar Gravel |
|---|
| Parking Features | Assigned, Garage |
|---|---|
| Garage Yes / No | Yes |
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
| Community Features | Curbs, Storm Drains, Street Lights, Sidewalks, Urban |
|---|
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 3 Eastside | Circle Area |
| Community Name | Eastside (ES) |
| Listing VS Median (in Eastside (ES)) | |
Price: $2,345,000 low | high Med: $850,000 sqft: 6,770 low | high Med: 596 $ / sqft: $346 low | high Med: $1,426 On site: 170 low | high Med: 118 | |
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90804 |
| Area | 3 Eastside | Circle Area |
| Community Name | Eastside (ES) |
| Listing VS Median (in Eastside (ES)) | |
Price: $2,345,000 low | high Med: $850,000 sqft: 6,770 low | high Med: 596 $ / sqft: $346 low | high Med: $1,426 On site: 170 low | high Med: 118 | |
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