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1600 N Stanton Place, Long Beach, CA 90804
$5,950,000
1600 N Stanton Place, Long Beach, CA 90804View this property at 1600 N Stanton Place, Long Beach, CA 90804
1600 N Stanton PlaceLong BeachCA90804
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Property Description
Waterstone Apartments is a 27-unit multifamily investment property located at 1600 North Stanton Place in Long Beach, California. Built in 1964, Waterstone Apartments offers a desirable mix of one and two-bedroom floor plans with amenities including gated access, private balconies (select units), and gated garage parking. Long Beach's strong rental metrics, including a 2022 vacancy rate of just 4.0 percent and year-over-year rent growth of 8.5 percent, are evidence of the substantial demand for rental units in the area. Currently, 8 units have received substantial improvements including shaker-style cabinetry, quartz countertops, vinyl flooring, stainless steel appliances and more. Through the continuation of this interior renovation plan, a new owner could potentially achieve a 12 percent increase in rental income. The property benefits from its location just south of Long Beach City College, Pacific Coast Campus, a major employer and housing driver for the city of Long Beach. Waterstone Apartments is situated in close proximity to Pacific Coast Highway and Cherry Avenue, two major thoroughfares that connect residents to Interstates 405 and 605. Additionally, residents enjoy access to Signal Hill's numerous parks and trails. The neighborhoods surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at Waterstone Apartments.
Full Property Details
Full Property Details for 1600 N Stanton Pl
General
- Sold For: $5,950,000
- Status: Closed
- Type: Multi-Family
- MLS ID: OC23207083
- Added to Site: 209 day(s) ago
Rooms
Other Rooms
- Laundry: None
Additional Information
- Pool Description: None
Parking
- Garage Spaces: 23
Location
- Area: 699 - Not Defined
- County: Los Angeles
- Development Name: 699 - Not Defined
- Driving Directions: Nearby Cross Streets: Stanton Place & East 17th Street
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 27
- # Electric Meters: 27
Structural Information
- Entry Location: First Floor
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 21,686
- Year Built: 1964
Unit Information
Unit 1
- Number of Units: 11
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Number of Units: 16
- Total Bathrooms: 1
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 0.49
- Lot Size Source: Assessor
- Zoning: LBR2N
- Lot Description: Level with Street
Financial Considerations
- Price Per Sq. Ft.: $274.37
- Price Per Unit: 227778
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Marcus & Millichap RE Invest, Tyler Leeson
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Schools
Schools serving 1600 N Stanton Pl
School District:Long Beach Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
1620 Temple Ave, Long Beach, CA 90804 | PK-5 | 0.3 mi | |
750 Euclid Ave, Long Beach, CA 90804 | 6-8 | 1.2 mi | |
4400 E 10th St, Long Beach, CA 90804 | 9-12 | 1.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1600 N Stanton Pl
Date
Details
Price
Change
Source
5/31/2024
Sold
$5,950,000
-3.25%
MLS
3/11/2024
Price Reduced
$6,150,000
-5.38%
MLS
11/07/2023
Listed
$6,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1600 N Stanton Place, Long Beach, CA 90804 (MLS# OC23207083) is a Multi-Family property that was sold at $5,950,000 on May 31, 2024. Want to learn more about 1600 N Stanton Place? Do you have questions about finding other Multi-Family real estate for sale in Long Beach? You can browse all Long Beach real estate or contact a Coldwell Banker agent to request more information.