1503 N Stanton PL, Long Beach, CA 90804
1503 N Stanton PL, Long Beach, CA 90804
1503 N Stanton PL, Long Beach, CA 90804
1503 N Stanton PL, Long Beach, CA 90804
1503 N Stanton PL, Long Beach, CA 90804
1503 N Stanton PL, Long Beach, CA 90804
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$ 2,375,000
Est. payment | /mo

20 Beds

10 Baths

6,710 SqFt


Save
$ 2,375,000
Est. payment | /mo
Save

20 Beds

10 Baths

6,710 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,710 sqft

Price per Sqft $353

MLS Listing ID 26104747

Bedrooms 20

HOA Y/N No

Year Built 1960

Lot Size 9,012 Sqft

Property Description

1503 Stanton Pl | 10-Unit Multifamily, Long Beach. This 1960-built asset totals 6,710 SF across a front and rear building on a 10,736 SF R-2-N lot in Long Beach's Zaferia neighborhood, a short walk from neighborhood shopping and 1.2 miles from Long Beach City College. The property features (10) 2BR/1BA units averaging 671 SF. Eight of 10 units are occupied at an average rent of $2,008 against a $2,095 market rent, and Units 1 and 4 are delivered vacant for the buyer to lease at market. Offered at $2,375,000 ($237,500/unit | $353.95/SF) with a 7.13% cap rate at lease-up, the real story is yield: a cap rate above every comparable sale reporting one, with a 7.48% pro forma reached through natural turnover and no renovation program.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Driveway Down Slope From Street

Building

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 7260014014

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040

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Why The Brandon Drew Group?

THIS IS OUR PURPOSE .
 
Named for our son. Built for your family. The Brandon Drew Group is a family-run mortgage firm in Rancho Cucamonga, California, named in memory of Robert and Colleen Olivas's son Brandon Drew. What started as a way to honor him became a calling — to make sure every family who walks through our door is treated with the same patience, honesty, and care we wish for our own. The story behind the name →

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1503 N Stanton PL