Sold
Closed
1600 N Stanton Place
Long Beach CA, 90804
$5,950,000
$274.37 per sqft
Sold
Closed
21,686 sqft
Condo
Built in 1964
Listed by Tyler Leeson with Marcus & Millichap RE Invest 714-713-9086
Waterstone Apartments is a 27-unit multifamily investment property located at 1600 North Stanton Place in Long Beach, California. Built in 1964, Waterstone Apartments offers a desirable mix of one and two-bedroom floor plans with amenities including gated access, private balconies (select units), and gated garage parking. Long Beach's strong rental metrics, including a 2022 vacancy rate of just 4.0 percent and year-over-year rent growth of 8.5 percent, are evidence of the substantial demand for rental units in the area. Currently, 8 units have received substantial improvements including shaker-style cabinetry, quartz countertops, vinyl flooring, stainless steel appliances and more. Through the continuation of this interior renovation plan, a new owner could potentially achieve a 12 percent increase in rental income. The property benefits from its location just south of Long Beach City College, Pacific Coast Campus, a major employer and housing driver for the city of Long Beach. Waterstone Apartments is situated in close proximity to Pacific Coast Highway and Cherry Avenue, two major thoroughfares that connect residents to Interstates 405 and 605. Additionally, residents enjoy access to Signal Hill's numerous parks and trails. The neighborhoods surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at Waterstone Apartments.
OC23207083
MLSⓇ ID
November 7, 2023
Listed
August 30, 2024
Updated
Map
1600 N Stanton Place
Long Beach CA, 90804
Interior Features
Total Stories
2
Laundry Description
None
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.49 Acres
Lot Features
Street Level
Sewer
Public Sewer
Other Property Details
Area Name
699 - Not Defined
Days on Market
134
Garage
Yes
Garage Spaces
23
Parking Total
23
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LBR2N
Listing History
Date | Event | Price |
---|---|---|
5/31/2024 | Sold | $5,950,000 |
3/21/2024 | Pending | — |
3/11/2024 | Price change | $6,150,000 -6% |
Listing Contact: 949-419-3200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/30/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 8/30/2024 at 7:49 PM UTC