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Kim And Raquel - Good Day Home Team

kimthurman365@gmail.com +1(661) 373-6597

$ 8,000,000

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1761 Park AVE Long Beach, CA 90815

0.37 Acres Lot

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Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Circle (Ca)

MLS Listing ID PW26215271

HOA Y/N No

Year Built 1963

Lot Size 0.373 Acres

Property Sub-Type Mixed Use

Property Description

STUDENT HOUSING OPPORTUNITY – 64 BEDS + 8 BEDS = 72 MAX BEDS. 7.47% CURRENT CAP, WITH MARKET CAP RATE AT 8.63%-9.14%! Park Villa Apartments, an 18-unit / 64-bed off-campus student housing asset serving California State University, Long Beach (CSULB). The property operates under a “by-the-bed” leasing model commonly used in purpose-built student housing, offering furnished individual beds rather than leasing entire units. This structure provides students greater flexibility while generating higher effective rents per unit and diversified cash flow for ownership. Park Villa Apartments features (4) 3BD/2BA, (2) 2BD/2BA, (10) 2BD/1BA and (2) 1BD/1BA units surrounding a landscaped courtyard, along with on-site laundry, eight garages and 12 tandem surface parking spaces. Comprehensive renovations completed in 2023 include upgraded electrical and plumbing systems, new dual-pane windows, laminate flooring, shaker-style cabinetry, quartz countertops, stainless steel appliances, updated bathrooms, modern lighting, ceiling fans and fixtures throughout. The property is located near Long Beach's Traffic Circle, providing walkable access to extensive retail, dining and everyday services. Its proximity to CSULB and the 405 Freeway also provides convenient connectivity throughout Long Beach, the South Bay and Orange County. CSULB has 3,500 on-campus beds serving more than 42,000 students—an on-campus housing saturation rate of approximately 8%—leaving the overwhelming majority of students reliant on the private housing market. Demand is further supported by record enrollment and approximately 84,000 applications in the most recent admissions cycle, the highest applicant volume in the 23-campus CSU system. This persistent supply-demand imbalance provides Park Villa Apartments with a deep, recurring renter pool. Combined with annual lease resets, recurring new-student demand and approximately 25% tenant retention, the property's by-the-bed model provides a compelling foundation for stable occupancy, income growth and long-term student housing demand.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR4R

Interior

Fireplace No

Laundry Common Area

Exterior

Parking Features Garage, Tandem, Uncovered

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Urban

Total Parking Spaces 20

Private Pool No

Building

Lot Description 16-20 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7220002040

Energy Description 304.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Robert Stepp Keller Williams Realty Downey 310-463-2916, DRE #01456379

Kim And Raquel - Good Day Home Team

Agent License ID: 01165332/370499

+1(661) 373-6597 | kimthurman365@gmail.com

Kim And Raquel - Good Day Home Team

1761 Park AVE Long Beach, CA 90815

Key Details

Location

Interior

Exterior

Building

Others

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1761 Park AVE