
Long Beach, California 90806
This High-Potential Investment Opportunity is a Triplex listed at $905,000, positioned well below the $921,405 Fair Market Value by 1.8%. This valuation gap offers $16,405 in Instant Equity. With a Condition Rating of 3, the property features recent capital improvements and generates $6,865 in monthly income. The potential for ADU conversion provides a clear path for value-add growth. This asset is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset living costs through rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2310 Elm Subject | $905,000* List Price | 0 | 0 | 1,581 | $583 | - |
A 223 E Eagle Active | $865,000 List Price | 0 | 0 | 1,567 | $552 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1921, the property has undergone recent capital improvements including interior remodels with updated shaker-style cabinetry, modern laminate flooring, and roof work. The listing confirms updated systems and fresh finishes, making the units functional and move-in ready.
The property delivers an impressive $6,865 monthly income with a 6.4% Cap Rate and 10.66 GRM, offering immediate positive cash flow that is highly competitive for the Long Beach market.
Extensive recent updates, including roof work, exterior paint, and interior remodels, significantly reduce immediate maintenance obligations and provide a turn-key experience for investors.
The pursuit of ADU permits to convert existing garages into additional units offers a strategic opportunity to increase density and substantially grow the property's long-term valuation.
Originally built in 1921, the property may possess underlying structural or utility complexities inherent to 100-year-old buildings that modern updates might not fully address.
With three units sharing only 1,581 square feet of living space, the individual units are relatively small, which could limit appeal for tenants seeking more spacious accommodations.
Back on the market with a major price reduction — and priced to sell. This exceptional triplex features a detached (3) bedroom 1 bath home, and a duplex with (2) 1 bedroom 1 bath units located in the rear. This unit mix delivers strong in-place income of $6,865/month with clear upside through market rent increases. Interiors have been updated with fresh finishes and systems and recent capital improvements remodels, roof work, and exterior paint — substantially reducing near-term maintenance obligations for a new owner. For the investor, this property generates immediate cash flow from day one. With a 30% down conventional loan, you step into positive cash flow at current rents with strong long-term appreciation potential and multiple built-in avenues to grow income over time. In addition, ADU permits were pursued to convert existing garages into more units (buyer to verify) offering another value-add play. For the owner-user, this is a rare live-and-earn opportunity. Occupy one of the units and let the other two work for you — tenant rents offset a substantial portion of your monthly carrying costs, making homeownership in Long Beach dramatically more attainable while you build equity in a cash-flowing asset. FHA and low-down owner-occupant financing options may apply. Located in a desirable Long Beach rental corridor, 2310 Elm Avenue offers an exceptional combination of immediate income, long-term appreciation, and multiple paths to grow value. Whether you are an investor seeking a turn-key cash-flowing asset or an owner-user ready to reduce your cost of living, this is the opportunity you have been waiting for. Offered at $905,000, 10.66 GRM & 6.4% Cap Rate.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.9 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 1,581 | 2,100 |
| Lot Size | 5,386 | 5,077.5 |
| Price | $905.0K | $1.14M |
| Price per sq ft | $572 | $519 |
| Built year | 1921 | 1950 |
| HOA | $0 | $0 |
| Days on market | 49 | 68 |
Jun 3, 2026
$905,000
Initial Listing
Jun 15, 2023
$895,000
Public Record
Nov 25, 2009
$205,000
Public Record