1720 Petaluma Ave, Long Beach, CA 90815
1720 Petaluma Ave, Long Beach, CA 90815
1720 Petaluma Ave, Long Beach, CA 90815
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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660
Listed by Shane Young, DRE #01963090 • Younglewin Advisors, Inc.
$2,590,000
Est. payment /mo
7,378 Sqft Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRPW26197030

Year Built 2022

Lot Size 7,378 Sqft

Property Sub-Type Duplex

Source California Regional MLS

Property Description

Located in one of the most coveted, supply constrained submarkets in SoCal, 1720 Petaluma Ave is situated in East Long Beach, just 0.5mi from CSULB's campus. The property is a new construction, purpose built student housing opportunity consisting of two spacious, detached units on an oversized lot. Grossing $182,580 annually, 1720 Petaluma's units consist of a front house 7 bedroom/7 bath open floorplan unit, and a rear home 4 bedroom/4 bath unit with expansive 15ft ceilings and ample natural light. Both units benefit from high end appliances, luxury finishes, and ensuite, private bathrooms. Each unit has dedicated laundry machines, private patios, and a large back yard with a lounge area and spa for tenants' enjoyment. Given the lack of available CSULB student housing, these high-end, new construction units have had consistent, overwhelming rental demand. Additionally, each lease comes with parental co-signer guarantees, and tenants pay 100% of utilities. 1720 Petaluma is priced attractively at a 5% cap rate with another 13% in NOI upside. This opportunity provides access to a strong and steady renter base, a unique hedge against CA rent control, strong rental upside, and long term appreciation in an A+ location.

Location

State CA

County Los Angeles

Area 34 - Los Altos, X-100

Interior

Laundry Other, Washer/Dryer - Owned

Exterior

Parking Features Garage, Off-Street Parking

Garage Spaces 3.0

Pool None

Building

Story One Story

Water District - Public

Others

Tax ID 7239001027

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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