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635 Elm Ave 10 Unit Apartment Building $3,416,255 CAD ($341,626 CAD/Unit) 5% Cap Rate Long Beach, CA 90802
Investment Highlights
- 10 Units in historic multifamily/condominium building located in the East Arts Village neighborhood of Long Beach
- Gated access, secured front entry, and surveillance camera systems installed throughout.
- All units have undergone full interior remodeling including air conditioning installation
Executive Summary
635 Elm Avenue presents a rare opportunity to acquire a portfolio of ten individually owned residential units within a well-located 21-unit building in the heart of Long Beach. Comprised of a mix of studios and larger one- and two-bedroom residences, the portfolio offers immediate, stable cash flow with 100% occupancy and a clean trailing twelve-month operating history. Based on normalized operating expenses and reassessed property taxes, the offering delivers an approximate 5.0% cap rate inclusive of a buyer’s projected tax basis, providing investors with transparent, in-place yield in a supply-constrained coastal market. In addition to dependable income, the asset offers meaningful strategic flexibility through long-term hold potential, operational upside, and the ability to execute a phased retail disposition strategy over time.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,416,255 CAD | Property Subtype | Apartment |
| Price Per Unit | $341,626 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5% | Building Size | 11,928 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 10 | Year Built | 1924 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Zoning | PD-30 - Planned Development | ||
| Price | $3,416,255 CAD |
| Price Per Unit | $341,626 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Sale Condition | 1031 Exchange |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 11,928 SF |
| No. Stories | 2 |
| Year Built | 1924 |
| Opportunity Zone |
Yes |
| Zoning | PD-30 - Planned Development |
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Exceptionally walkable
90/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7273-027-038 | Total Assessment | $22,087 CAD |
| Land Assessment | $3,973 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $18,115 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
7273-027-038
Land Assessment
$3,973 CAD
Improvements Assessment
$18,115 CAD
Total Assessment
$22,087 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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635 Elm Ave
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