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Listed by Andrew McAllister • eXp Realty of Greater L.A
$ 3,150,000
Est. payment | /mo
7,507 Sqft Lot
$ 3,150,000
Est. payment | /mo
7,507 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRRS25135898
Year Built 1963
Lot Size 7,507 Sqft
Source California Regional MLS
Property Description
Huge Price Reduction! Bring All Offers -Welcome to The Louis - Priced at an in-place 6.03% cap rate, the Louis iis a full renovated 12 unit apartment complex located in the heart of Long Beach, CA. This well-maintained property is comprised of (2) spacious 2-bedroom/1-bath units and (10) 1-bedroom/1-bath units, all of which were extensively remodeled with permits in 2019. Interiors feature modern finishes, and the units remain in excellent condition. That same year, the exterior received a full facelift, including new paint and a refreshed façade, enhancing the building's curb appeal. Seller replaced the 100 gallon water heater in 2025. The property benefits from a stable tenant base, with approximately 10% rental upside remaining-offering investors immediate cash flow and future growth potential. Additionally, there are (6) on-site garages that present a compelling value-add opportunity: potential conversion into (3) ADUs (Accessory Dwelling Units), subject to Buyer verification. The Louis offers a rare blend of updated construction, long-term tenancy, and upside in one of Long Beach's most active rental markets.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Wall Furnace
Cooling None
Laundry Washer/Dryer - Leased, Community Facility
Exterior
Garage Spaces 6.0
Pool None
Roof Type Shingle
Building
Lot Description Grade - Level, Paved
Sewer TBD
Water District - Public
Others
Tax ID 7273005013
Special Listing Condition Not Applicable
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Dave Lucas
REALTOR® | Lic# 02092197