USACALong BeachEast Village319 Elm Ave
319 Elm Ave | Image 1
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$4,800,000

For Sale

12 days ago

319 Elm Ave, Long Beach, CA

House

MLS® PW26169956

0 Bed

0 Bath

--

10 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Mixed Use
Levels Residential Income
Size -
Garage 
Taxes 
Days Active 12
Lot Size 0.1729 Acres
Approx. Age 1912
MLS® Number PW26169956

Property Address: 319 Elm Ave, Long Beach, CA, 90802-2417

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

Description

319 Elm Street is a 24-unit multifamily asset located in Long Beach’s East Village Arts District, a dense and walkable Downtown submarket known for its consistent renter demand and proximity to employment, transit, and lifestyle amenities. The property is comprised of eighteen (18) studio units and six (6) one-bedroom/one-bath units, offering an efficient small-unit mix aligned with the area’s tenant profile. Furthermore, ten (10) on-site parking spaces represent a rare, meaningful amenity in a submarket where parking remains constrained. The seller has invested over $900, 000 in capital improvements, including comprehensive electrical upgrades throughout the building, unit renovations, keyless entry on all units, common area enhancements, and exterior improvements. The completion of these upgrades, combined with separately metered utilities, supports a more efficient and predictable operating profile with limited near-term capital requirements. 319 Elm Avenue is priced at a 6.42% cap rate and 10.06 GRM in place, with a clear runway to grow. As rents move to market and RUBS is implemented, the property stabilizes at a 7.28% cap rate and 9.20 GRM—an 86-basis-point expansion in yield and a full point of GRM compression. That translates to $44, 075 of additional annual NOI, a 14% increase in cash flow at no change in basis.
MLS® NumberPW26169956
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1912
Basement
Driveway
Garage Spaces
Heat
A/C

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Aug 6, 2026List Date
$4,800,000List Price
  • Commute

Commute

Starting Address
Destination Address
319 Elm Ave, Long Beach, CA

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