122 Elm Ave APT 10, Long Beach, CA, 90802 | $405/mo Cash Flow

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122 Elm Ave APT 10, Long Beach, CA, 90802 | $405/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Long Beach at 122 Elm Ave APT 10, Long Beach, CA, 90802 offers a 9.38% rental yield on a $249,000 purchase with $1,946/mo rent. Total monthly income registers $1,946/mo, and a $1,219/mo payment leaves $405/mo available for distribution. Annual cash flow reaches $4,864/yr on $82,544 to close, and return on cash invested stands at 25.8% in year one. Equity gained on principal adds $1,607/yr while 5% annual appreciation supports $68,794 over five years. Portfolio math shows five-year ROI at 134.48% and total cumulative return in cash at $111,008. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,946/mo property income against a $1,219/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 1949

5,056 sqft lot

$N/A/sqft

No HOA

More details about the property

NEW PRICE IMPROVEMENT . . . Discover the perfect blend of urban energy, creative culture, and cozy charm in this affordable, bright, and inviting studio located in the desirable Grayson Arms condominium complex. Unit 10 sits on the second floor in the heart of the East Village Arts Districtone of Long Beachs most vibrant and rapidly evolving neighborhoods. This centrally located and transit-friendly community places you just moments from the Blue Line Metro, Shoreline Village, Pine Avenue nightlife, The Pike Outlets, and the iconic Terrace Theater. With a Walk Score of 97, the best of downtown Long Beach is truly right outside your door. The East Village is known for its eclectic mix of artists, professionals, and entrepreneurs, and is currently undergoing an exciting wave of revitalization. New residential towers, trendy retail spaces, and boutique hospitality projects are transforming the area into one of Southern Californias most dynamic urban destinations. Whether you're walking to a gallery opening, sipping coffee at a sidewalk caf, or biking to the beach, the lifestyle here is creative, connected, and inspiring. Inside Unit 10, you'll find a smart, airy layout filled with natural light. Highlights include a generous walk-in closet and a hallway built-in with drawers and additional storage, plus a built-in vanity near the bathroom. The oversized kitchen offers room for a small dining table and features ample cabinetry. Modern updates include designer paint, updated plumbing fixtures, vertical blinds, and appliancesrefrigerator, gas stove, microwave, and a recently installed window AC unit. A gas wall heater provides cozy comfort in the cooler months. The pet-friendly building offers on-site laundry, low monthly HOA dues, and convenient parking options. Metered street parking is available right in front, and monthly parking is offered at the adjacent Westin Hotel. Whether you're a first-time buyer, investor, or simply seeking a stylish and affordable city retreat, Unit 10 presents a rare opportunity to own in one of Long Beachs most sought-after and fast-growing neighborhoods. Welcome home to the East Village lifestyleartful, active, and authentically you.

Neighborhood Data

Neighborhood data shown for ZIP Code: 90802, Long Beach, CA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	26,306 (100%)
Owner Occupied HU	4,625 (17.6%)
Renter Occupied HU	19,014 (72.3%)
Vacant Housing Units	2,667 (10.1%)
Median Home Value	$758,455
Average Home Value	$819,112