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$ 6,995,000
Est. payment | /mo
1 Bed
0.34 Acres Lot
$ 6,995,000
Est. payment | /mo
1 Bed
0.34 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25223690
Bedrooms 1
Lot Size 0.336 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
We are proud to present Virginia Country Club Apartments, a rare 25-unit multifamily community in the highly coveted Los Cerritos neighborhood of Bixby Knolls. This desirable submarket is recognized for its historic homes, tree-lined streets, and affluent demographics, making it one of the most stable and in-demand rental markets in Long Beach. Currently operating as a 55+ senior living community, the property represents the largest available multifamily asset in the neighborhood today and one of only a handful of buildings above 20 units in all of Bixby Knolls. The unit mix consists of twenty-two (22) spacious one-bedrooms and three (3) studios, supported by a secured parking garage with twenty-five (25) parking spaces and twelve (12) rentable storage unitsfeatures rarely found in competing rental properties. Residents enjoy balconies, dishwashers, gas stoves, wood or tile flooring, and community conveniences such as an elevator, recreation room, and on-site laundry. Each unit is individually metered for gas and electricity, reducing landlord expenses and providing long-term operational efficiency. With current rents approximately 30% below market, investors are presented with a clear mark-to-market strategy that allows for significant near-term income growth with limited capital expenditure. Combined with the neighborhoods low vacancy, high household income base, and strong barriers to entry for new construction, Virginia Country Club Apartments offers investors both immediate upside and long-term stability.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Driving North on Long Beach Blvd., Turn Left Onto E. Roosevelt Rd., Immediately Make a Slight Right Turn Onto N. Virginia Rd., P
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Restrictions Other/Remarks
Tax ID 7139017010
Listed by Christopher Walker Triqor Group
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "