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$1,799,000
Est. payment /mo
7,514 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26189996
HOA Y/N No
Year Built 1954
Lot Size 7,514 Sqft
Property Sub-Type Industrial
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
Interior
Heating None
Cooling None
Fireplace No
Laundry None
Exterior
Fence Chain Link
Roof Type None
Building
Lot Description Rectangular Lot
Water Public
Others
Tax ID 7281009009
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Cody Charnell Sage Real Estate Group, Inc. 562-896-3851, DRE #01950585
Nearby School & Business
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