New

$8,000,000

For Sale

19 hours ago

1761 Park Ave, Long Beach, CA

Name: 1761 Park Ave, For Sale in Long Beach - eXp Realty
Brand: Keller Williams Realty Downey
SKU: PW26215271
Price: 8000000 USD

House

MLS® PW26215271

0 Bed

0 Bath

20 Parking

Key Facts
Description
Map

Key Facts

Type Mixed Use

Levels Residential Income

Size -

Garage Yes

Taxes

Days Active 1

Lot Size 0.3727 Acres

Approx. Age 1963

MLS® Number PW26215271

Property Address: 1761 Park Ave, Long Beach, CA, 90815

Average square foot calculated using Size range provided by listing agent.

Description

STUDENT HOUSING OPPORTUNITY – 64 BEDS + 8 BEDS = 72 MAX BEDS. 7.47% CURRENT CAP, WITH MARKET CAP RATE AT 8.63%-9.14%! Park Villa Apartments, an 18-unit / 64-bed off-campus student housing asset serving California State University, Long Beach (CSULB). The property operates under a “by-the-bed” leasing model commonly used in purpose-built student housing, offering furnished individual beds rather than leasing entire units. This structure provides students greater flexibility while generating higher effective rents per unit and diversified cash flow for ownership. Park Villa Apartments features (4) 3BD/2BA, (2) 2BD/2BA, (10) 2BD/1BA and (2) 1BD/1BA units surrounding a landscaped courtyard, along with on-site laundry, eight garages and 12 tandem surface parking spaces. Comprehensive renovations completed in 2023 include upgraded electrical and plumbing systems, new dual-pane windows, laminate flooring, shaker-style cabinetry, quartz countertops, stainless steel appliances, updated bathrooms, modern lighting, ceiling fans and fixtures throughout. The property is located near Long Beach’s Traffic Circle, providing walkable access to extensive retail, dining and everyday services. Its proximity to CSULB and the 405 Freeway also provides convenient connectivity throughout Long Beach, the South Bay and Orange County. CSULB has 3, 500 on-campus beds serving more than 42, 000 students—an on-campus housing saturation rate of approximately 8%—leaving the overwhelming majority of students reliant on the private housing market. Demand is further supported by record enrollment and approximately 84, 000 applications in the most recent admissions cycle, the highest applicant volume in the 23-campus CSU system. This persistent supply-demand imbalance provides Park Villa Apartments with a deep, recurring renter pool. Combined with annual lease resets, recurring new-student demand and approximately 25% tenant retention, the property’s by-the-bed model provides a compelling foundation for stable occupancy, income growth and long-term student housing demand.

MLS® NumberPW26215271

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age1963

Basement

DrivewayGarage, Tandem, Uncovered

Garage Spaces

Heat

A/C

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Oct 6, 2026List Date

$8,000,000List Price

Commute

Commute

Starting Address

Destination Address

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