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1115 E Artesia Boulevard, Long Beach, CA 90805
$2,290,000
1115 E Artesia Boulevard, Long Beach, CA 90805View this property at 1115 E Artesia Boulevard, Long Beach, CA 90805
1115 E Artesia BoulevardLong BeachCA90805
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Property Description
** BRAND NEW BUILDING - PRICE REDUCED - NOW 6.55% CAP - 4 of the 5 Units Leased **
The subject property is a newly constructed 5-unit townhouse style apartment building located at 1115 E. Artesia Blvd. in the city of Long Beach. Construction on this building was completed in early February 2024 and leasing has begun (four of the five units have already been leased up).
This property is composed of three separate three-story structures with approximately 7,895 square feet of rentable space sitting on a parcel of approximately 6,208 square feet. The units at this property are significantly larger than other for-rent units typically found in the Long Beach market and are perfectly positioned for multi-generational families and work-from-home roommate environments. Three of the units are large 5-bedroom, 3.75 bath three-story townhome units of approximately 1,750 square feet with attached two-car garages. One of the units is a 4-bedroom, 3-bath three-story townhome unit of approximately 1,421 square feet and the fifth unit is an affordable housing unit and is a 3-bedroom, 2-bath unit of approximately 1,252 square feet.
For-rent townhomes of this size and bedroom count are extremely hard if not impossible to find in the Long Beach market, especially in newly constructed buildings. As such, these units fill a unique niche in the market that could certainly be advantageous for a new owner as families and groups of renters consolidate in the coming years. The demand for multi-generational housing accommodations has vaulted in popularity and these large townhome units certainly help fill this need.
In terms of amenities, all units have central heating and air conditioning and all units have private balconies, an open kitchen layout with a large kitchen island, and a full laundry room on the third floor of each unit including washers and dryers. The property has security gates in the front of the building for pedestrian access and in the rear of the building for vehicle access.
This property offers a rare opportunity for an investor to purchase a newly constructed 5-unit apartment building in a desirable rental market that
will benefit from a unique unit mix that is not commonly found in this market.
Full Property Details
Full Property Details for 1115 E Artesia Blvd
General
- Sold For: $2,290,000
- Status: Closed
- Type: Multi-Family
- MLS ID: PW23184728
- Added to Site: 255 day(s) ago
Rooms
Other Rooms
- Laundry: Dryer Included, Washer Included
Additional Information
- Pool Description: None
Parking
- Garage Spaces: 6
- Parking Features: Garage
- Parking: Garage
Location
- Area: 7 - North Long Beach
- County: Los Angeles
- Development Name: 7 - North Long Beach
- Driving Directions: Artesia Blvd just west of Orange Ave
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Central
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 5
- # Electric Meters: 5
Structural Information
- Entry Location: Front/Rear
- Stories/Levels: Three Or More
- Stories Description: Three Or More
- Square Feet: 8,100
- Year Built: 2023
Unit Information
Unit 1
- Number of Units: 3
- Total Bathrooms: 4
- Bedrooms: 5
Unit 2
- Number of Units: 1
- Total Bathrooms: 3
- Bedrooms: 4
Unit 3
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 3
Lot Features
- Lot Size (Acres): 0.1425
- Lot Size Source: Assessor
- Zoning: LBCCA
- Lot Description: Near Public Transit
Financial Considerations
- Price Per Sq. Ft.: $282.72
- Price Per Unit: 470000
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Marcus & Millichap, Matthew Wenzel
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Schools
Schools serving 1115 E Artesia Blvd
School District:Long Beach Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
1225 E 64th St, Long Beach, CA 90805 | PK-5 | 0.3 mi | |
1060 E 70th St, Long Beach, CA 90805 | 6-8 | 0.5 mi | |
6500 Atlantic Ave, Long Beach, CA 90805 | 9-12 | 0.4 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 1115 E Artesia Blvd
Date
Details
Price
Change
Source
4/22/2024
Sold
$2,290,000
-2.55%
MLS
3/13/2024
Price Reduced
$2,350,000
-9.62%
MLS
1/30/2024
Price Reduced
$2,600,000
-5.45%
MLS
11/24/2023
Price Reduced
$2,750,000
-5.17%
MLS
10/03/2023
Listed
$2,900,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1115 E Artesia Boulevard, Long Beach, CA 90805 (MLS# PW23184728) is a Multi-Family property that was sold at $2,290,000 on April 22, 2024. Want to learn more about 1115 E Artesia Boulevard? 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.