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Property view

2260 Santa Fe Avenue, 
Long Beach, CA 90810

$3,725,000

—

Bed

—

Bath

12,500

Sq Ft

Multi-Family

Sold

Listed by

Christopher Van Vuuren

, 

Cris Molles

Bought with Bret Lewis, Broker

Lyon Stahl Investment Real Estate, Inc.

, 

The Realestate Group

310-425-9838

MLS#

SB24156797

Source:

CRMLS

Sorry, we are unable to map this address

About This Home

2260 Santa Fe Avenue

HIGH YIELD - 8% CASH-ON-CASH RETURN w/ FINANCING AVAILABLE AT JUST 25% DOWN!!!!! pleased to present the opportunity to acquire 2260 Santa Fe Avenue and 2261 Adriatic Avenue, an investment property located in the vibrant Westside Long Beach submarket. These two adjacent parcels are situated in a high-demand area, offering a unique mix of unit configurations and robust investment potential. The properties are strategically positioned to benefit from Long Beach's ongoing urban development and revitalization efforts, providing residents with easy access to transportation, employment hubs, and diverse retail and entertainment options. 2260 Santa Fe Avenue is comprised of thirty-one (31) studio units and one (1) one-bedroom/one-bath unit, while 2261 Adriatic Avenue features two (2) standalone three-bedroom/one-bath units. Together, these properties include a total of 34 units, 16 uncovered parking spaces, and a coin-operated laundry facility, enhancing tenant convenience and income potential. The Santa Fe Avenue property currently operates as an apartment building and has for many years, per the Seller.   A site plan has received approval with conditions from the City of Long Beach for legalization of an unpermitted conversion of a senior group residence into apartments. The buyer has the option to proceed with the city's conversion process or chose to operate the asset under allowable uses per the municipal code for the sites zoning. At an exceptional price of $120,000 per unit, this offering presents an attractive investment with a current 7.36% CAP rate and a pro forma 9.22% CAP rate. The current gross rent multiplier (GRM) stands at 8.27, with a pro forma GRM of 7.20, indicating significant upside potential. This investment not only promises strong cash flow and value appreciation but also offers the opportunity to capitalize on Long Beach's thriving real estate market.

Home Facts

Multi-Family

Built in 1950

Price Summary

4,080,000

$326 per Sq. Ft.

MLS #:

SB24156797

Sold:

December 24, 2024

Rooms & Interior

Interior

Living Area:

12,500 Sq. Ft.

Structure

Structure

Building Area:

12,500 Sq. Ft.

Year Built:

1950

Lot

Lot Size (Sq. Ft):

31,981

Finances & Disclosures

Finances

Price:

$4,080,000

Price per Sq. Ft:

$326 per Sq. Ft.

Source:CRMLS
Based on information from California Regional Multiple Listing Service, Inc. as of June 9, 2025 . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.