1720 Petaluma Ave, Long Beach, CA 90815
1720 Petaluma Ave, Long Beach, CA 90815
1720 Petaluma Ave, Long Beach, CA 90815
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John R Thompson

John R Thompson

+1(805) 796-5221
Listed by Shane Young • Younglewin Advisors, Inc.
$2,590,000
Est. payment /mo
3,260 SqFt
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Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 3,260 sqft

Price per Sqft $794

MLS Listing ID PW-26197030

Year Built 2022

Lot Size 7,378 Sqft

Property Sub-Type Apartment

Source California Regional Multiple Listing Service (CRMLS)

Property Description

Located in one of the most coveted, supply constrained submarkets in SoCal, 1720 Petaluma Ave is situated in East Long Beach, just 0.5mi from CSULB's campus. The property is a new construction, purpose built student housing opportunity consisting of two spacious, detached units on an oversized lot. Grossing $182,580 annually, 1720 Petaluma's units consist of a front house 7 bedroom/7 bath open floorplan unit, and a rear home 4 bedroom/4 bath unit with expansive 15ft ceilings and ample natural light. Both units benefit from high end appliances, luxury finishes, and ensuite, private bathrooms.
Each unit has dedicated laundry machines, private patios, and a large back yard with a lounge area and spa for tenants' enjoyment.
Given the lack of available CSULB student housing, these high-end, new construction units have had consistent, overwhelming rental demand. Additionally, each lease comes with parental co-signer guarantees, and tenants pay 100% of utilities.
1720 Petaluma is priced attractively at a 5% cap rate with another 13% in NOI upside.
This opportunity provides access to a strong and steady renter base, a unique hedge against CA rent control, strong rental upside, and long term appreciation in an A+ location.

Location

State CA

County Los Angeles

Area 34 - Los Altos, X-100

Interior

Heating Ductless

Fireplaces Type None

Laundry Inside

Exterior

Parking Features Garage, Shared Driveway, Street

Garage Spaces 1.0

Pool None

Community Features Biking, Curbs, Dog Park, Golf, Gutters, Park, Sidewalks, Storm Drains, Street Lights, Suburban, Watersports

Building

Lot Description Front Yard, Lawn, Yard, Back Yard

Sewer Public Sewer

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John R Thompson

John R Thompson

+1(805) 796-5221

Broker/Owner License ID: 01200900

Broker/Owner License ID: 01200900

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1720 Petaluma Ave