206 Euclid Avenue, Long Beach, CA 90803
  • MLS#: OC25194420 ( Apartment )
  • Street Address: 206 Euclid Avenue
  • Viewed: 6
  • Price: $8,350,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1970
  • Bldg sqft: 0
  • Days On Market: 61
  • Additional Information
  • County: LOS ANGELES
  • City: Long Beach
  • Zipcode: 90803
  • Subdivision: Other (othr)
  • Provided by: Mike Marcu, Broker
  • Contact: Mike Mike
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Belmont Heights is one of Long Beachs most desirable and supply constrained coastal submarkets. Known for its historic architecture, walkable streets, and proximity to the beach, the neighborhood continues to attract a high quality tenant base made up of professionals, retirees, and renters by choice. Residents are drawn to the areas unique charm, community feel, and lifestyle amenities, including easy access to 2nd Streets dining and retail, Bluff Park, and California State University, Long Beach. With consistently strong occupancy and rent growth, Belmont Heights represents one of the most enduring and stable multifamily markets in Southern California. The Euclid Apartments present an opportunity to acquire a well located and fundamentally strong asset in the heart of this prestigious neighborhood. The property is comprised of 24 spacious one bedroom units averaging approximately 750 square feet, along with three two bedroom, two bath units averaging 1,300 square feet. All units are individually metered, all electric, and equipped with individual water heaters, providing operational efficiency and ease of management. The community offers 26 secured parking spaces, laundry rooms on every floor, and elevator service. With a newer roof and several major systems already in place, the property provides a solid foundation for future improvements. Currently in clean and functional condition, the Euclid Apartments are primed for repositioning through targeted interior and exterior upgrades. Investors have the opportunity to enhance rental income by modernizing unit interiors, improving common areas, and elevating the overall curb appeal. The strength of Belmont Heights as a supply constrained, rent growth driven submarket amplifies the upside potential, allowing buyers to capture both near term renovation driven NOI growth and long term appreciation. Ultimately, the Euclid Apartments represent a rare chance to establish or expand a foothold in Belmont Heights. The combination of location, resident demand, operational strength, and clear value add potential make this offering a compelling investment opportunity in one of Long Beachs most resilient and sought after neighborhoods.
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Features
Building Area Total
  1. 21900.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Country
  1. US
Electric Expense
  1. 3092.00
Fuel Expense
  1. 0.00
Garage Spaces
  1. 27.00
Gardner Expense
  1. 3500.00
Insurance Expense
  1. 32400.00
Laundry Equipment Own Lease
  1. Lease
Laundry Features
  1. Common Area
Laundry Income
  1. 4600.00
Lot Features
  1. 36-40 Units/Acre
  2. Near Public Transit
  3. Park Nearby
  4. Walkstreet
Netoperatingincome
  1. 375091.00
Newtaxesexpense
  1. 109013.00
Number Of Separate Electric Meters
  1. 28
Number With Carpet
  1. 27
Number With Dishwasher
  1. 24
Number With Disposal
  1. 27
Number With Drapes
  1. 27
Number With Range
  1. 27
Number Wit Hrefrigerator
  1. 27
Otherexpense
  1. 19805.00
Otherexpensedescription
  1. Misc.
Otherincome1
  1. 1565.00
Otherincomedescription
  1. Misc
Parcel Number
  1. 7256007026
Parking Features
  1. Assigned
Pest Control Expense
  1. 1500.00
Pool Features
  1. None
Professionalmanagementexpense
  1. 42186.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 446107106:CRM
Subdivision Name Other
  1. Other
Suppliesexpense
  1. 2000.00
Tenant Pays
  1. Electricity
  2. Parking Fee
Totalexpenses
  1. 259220.00
Trash Expense
  1. 5592.00
Vacancyallowance
  1. 19089
Water Sewer Expense
  1. 16793.00
Water Source
  1. Public
Year Built
  1. 1970
Year Built Source
  1. Assessor
Zoning
  1. LBR4R