317 Elm, Long Beach, CA 90802
317 Elm, Long Beach, CA 90802
317 Elm, Long Beach, CA 90802
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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660
Listed by Cody Charnell, DRE #01950585 • Sage Real Estate Group, Inc.
$1,799,000
Est. payment /mo
7,512 Sqft Lot
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UPDATED:

Key Details

Property Type Vacant Land

Sub Type Other Residential Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRPW26190004

Lot Size 7,512 Sqft

Property Sub-Type Other Residential Land

Source California Regional MLS

Property Description

317 Elm Avenue presents a rare opportunity to acquire a truly hands-off, income-producing asset in the heart of Downtown Long Beach. Located directly across the alley from a major United States Postal Service facility, the 7,512-square-foot parking lot is leased to the USPS for truck parking. Beginning February 1, 2027, the property will generate $9,895.83 per month-or $118,750 annually-under a new five-year lease. The USPS is responsible for all property maintenance, providing the owner with predictable income and minimal day-to-day management. Competitively priced at a 5.3% cap rate, the property offers investors an attractive combination of reliable income, exceptional credit tenancy and minimal operating responsibility. Notably, with no viable alternative parking for their vehicles in the area, the USPS operates as a captive tenant-a dynamic that strengthens the likelihood of lease renewal and creates a compelling opportunity to negotiate extended terms beyond the initial five-year period if desired. Beyond its strong current cash flow, the property offers compelling long-term development potential. The parcel is located within Downtown Long Beach's PD-30 zoning district, positioning it for a variety of future development possibilities. The five-year lease runway gives an inv

Location

State CA

County Los Angeles

Area 4 - Downtown Area, Alamitos Beach

Zoning LSR

Exterior

Fence Chain Link

View None

Building

Water District - Public

Others

Tax ID 7281009009

Special Listing Condition Not Applicable

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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660

Agent DRE01254724 / 01254725

Agent DRE01254724 / 01254725

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