Bixby Knolls Apartments | 639 E Carson St
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Bixby Knolls Apartments 639 E Carson St
17 Unit Apartment Building $3,900,000 ($229,412/Unit) Long Beach, CA 90807
Investment Highlights
- Value Add - 45% Revenue Upside
- Walk score of 91
- 13 private garages with wide alley access and ample street parking
- Long term ownership since 2010
- Large courtyard with fountain and landscaping
- No rent control in City of Long Beach
Executive Summary
VALUE ADD - 45% REVENUE UPSIDE
Bixby Knolls Apartments leased rents are below market due to long term ownership prioritizing full occupancy over rental rate optimization.
Renovations and operational improvements provide substantial rent increases and NOI growth.
Bixby Knolls Apartments leased rents are below market due to long term ownership prioritizing full occupancy over rental rate optimization.
Renovations and operational improvements provide substantial rent increases and NOI growth.
Property Facts
| Price | $3,900,000 | Building Class | C |
| Price Per Unit | $229,412 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 10,330 SF |
| No. Units | 17 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1941 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Apartment Style | Garden |
| Price | $3,900,000 |
| Price Per Unit | $229,412 |
| Sale Type | Investment |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 10,330 SF |
| No. Stories | 2 |
| Year Built | 1941 |
| Parking Ratio | 1.25/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
Site Amenities
- Courtyard
- Laundry Facilities
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 13 | - | 450 |
| 1+1 | 3 | - | 800 |
| 3+1 | 1 | - | 1,100 |
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Walk Score ®
Walker's Paradise (93)
Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 7138-010-013 | Improvements Assessment | $949,130 |
| Land Assessment | $1,265,507 | Total Assessment | $2,214,637 |
PROPERTY TAXES
Parcel Number
7138-010-013
Land Assessment
$1,265,507
Improvements Assessment
$949,130
Total Assessment
$2,214,637
zoning
| Zoning Code | R3S (Multiple Dwelling) |
| R3S (Multiple Dwelling) |
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Bixby Knolls Apartments | 639 E Carson St
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