6
See all 6 photos
$1,799,000
Est. payment /mo
7,514 Sqft Lot
New
317 Elm Long Beach, CA 90802
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID PW26190004
HOA Y/N No
Lot Size 7,514 Sqft
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 investor time to evaluate, design and pursue entitlements for a future project while continuing to collect substantial rental income.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning PD30
Interior
Fireplace No
Exterior
Fence Chain Link
Community Features Urban
Utilities Available Other
View Y/N No
View None
Present Use Multi-Family
Building
Lot Description Rectangular Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7281009009
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Cody Charnell Sage Real Estate Group, Inc. 562-896-3851, DRE #01950585
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION