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319 Elm

Long Beach, CA 90802
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Bed 1

Bed

Bath 2

Bath

SqFt7,531

Sqft(Lot)

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.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $4,800,000

AD Id : 89183875

MLS Id : PW26169956

Beds : 1

Lot Size : 7,531 Sqft

Year Built : 1912

County : Los Angeles

Subdivision: Miami Suburban Acres

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Feature Features

  • Building Information

    Year Built: 1912
    Building Area Total: 11838
    Pool Features: None
    Private Pool: No

  • Lot Information

    Main Square Feet: 7531 Lot Size Acres: 0.1729 Lot Size Source: Assessor Lot Size Square Feet: 7,531 Lot Description: TwentyOneToTwentyFiveUnitsAcre

    Property Information

    Subdivision: East Village Source Property Type: ResidentialIncome Property SubType: Mixed Use Property Age: 114

  • Listing Price Information

    Listing Price: $4800000
    Cash, CashToNewLoan, Exchange1031

  • Tax Information

    Parcel Number: 7281009008 Tax Lot: 19 Tax Block: 78

  • Parking Information

    Parking Total: 10

  • Location Information

    Direction: Atlantic Ave WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1738 E 4th, Long Beach, CA, 90802 $299,998 -- 1 397 397 SqFt
1738 E 4th Street #15, Long Beach, CA, 90802 $279,000 -- 1 398 398 SqFt
1427 E 4th, Long Beach, CA, 90802 $1,999,000 2 6 --
530 Almond Avenue, Long Beach, CA, 90802 $1,250,000 3 -- 1,962 1,962 SqFt
1250 E 4th, #8, Long Beach, CA, 90802 $280,000 1 1 654 654 SqFt
216 Esperanza, Long Beach, CA, 90802 $1,449,000 4 4 --
1310 E Ocean #405, Long Beach, CA, 90802 $819,000 1 1 990 990 SqFt
1152 E 1st Street, Long Beach, CA, 90802 $6,999,000 8 30 19,800 19,800 SqFt
437 Bonito, Long Beach, CA, 90802 $2,450,000 11 10 --
1142 E 1st Street, Long Beach, CA, 90802 $3,475,000 14 -- 8,965 8,965 SqFt

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 08/18/2026 @ 17:22

MLS: PW26169956 LISTED BY: Robert Stepp, Keller Williams Realty Downey 562-334-1500 SOURCE: CRMLS

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