122 Elm Ave APT 11, Long Beach, CA, 90802 | $369/mo Cash Flow

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122 Elm Ave APT 11, Long Beach, CA, 90802 | $369/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 11, Long Beach, CA, 90802 uses $84,533 cash to close to unlock $4,423/yr annual cash flow and $369/mo monthly cash flow. Total monthly income runs $1,946/mo, and a $1,248/mo payment keeps the spread at $369/mo. Purchase price stands at $255,000, and rental yield measures 9.16% with $1,946/mo rent. Return on cash invested shows 25.14% in year one, and 5% annual appreciation builds toward $70,452 over five years. Five-year ROI reaches 130.92% and total cumulative return in cash records $110,672. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,946/mo property income covering a $1,248/mo payment rather than investor’s personal income.

Condo

Built in 1949

5,056 sqft lot

$N/A/sqft

No HOA

More details about the property

NEW PRICE IMPROVEMENT . . . Welcome to Unit 11 at 122 Elm Avenuean exceptional opportunity to own a bright and stylish studio in the great pet friendly Grayson Arms condominium complex, perfectly located in Long Beachs vibrant East Village Arts District. This second-floor unit is flooded with natural light, thanks to oversized windows offering views of both the lush courtyard and tree-lined street below. Step inside to discover a thoughtfully designed layout featuring both a spacious walk-in closet and a mirrored sliding-door closet. The eat-in kitchen offers ample cabinetry and is complemented by tasteful updates throughout the home, including designer paint, modern plumbing fixtures, vertical blinds, recessed lighting, and a newer AC unit. Appliances include a new gas stove and refrigerator, along with a window AC and gas wall heater to keep you comfortable year-round. Community laundry is conveniently located on the first floor, and the courtyard features a BBQ area with outdoor dining. Rental parking is available at the adjacent lot and through Westin on a monthly basis.With a Walk Score of 97, youre steps from the Metro Blue Line, Pine Ave, Shoreline Village, The Pike, Terrace Theater, and an array of trendy coffee shops, galleries, and restaurants. On-site laundry, low HOA dues, and a pet-friendly community make living here easy and enjoyable. Street parking is plentiful, and monthly spaces are available for rent at the adjacent Westin Hotel. Unit went under total remodeling with new appliances in 2024.

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