1600 N Stanton Pl

Long Beach, CA 90804

Waterstone Apartments is a 27-unit multifamily investment property located at 1600 North Stanton Place in Long Beach, California.

Sales Price $6,500,000

Long Beach Apartment

Beds

3

Baths

2

Home Size

21686 Sq. Ft.

Lot Size

21344 Sq. Ft.

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Waterstone Apartments is a 27-unit multifamily investment property located at 1600 North Stanton Place in Long Beach, California.

Built in 1964, Waterstone Apartments offers a desirable mix of one and two-bedroom floor plans with amenities including gated access, private balconies (select units), and gated garage parking. Long Beach s strong rental metrics, including a 2022 vacancy rate of just 4.0 percent and year-over-year rent growth of 8.5 percent, are evidence of the substantial demand for rental units in the area. Currently, 8 units have received substantial improvements including shaker-style cabinetry, quartz countertops, vinyl flooring, stainless steel appliances and more. Through the continuation of this interior renovation plan, a new owner could potentially achieve a 13.1 percent increase in rental income. The property benefits from its location just south of Long Beach City College, Pacific Coast Campus, a major employer and housing driver for the city of Long Beach. Waterstone Apartments is situated in close proximity to Pacific Coast Highway and Cherry Avenue, two major thoroughfares that connect residents to Interstates 405 and 605. Additionally, residents enjoy access to Signal Hill s numerous parks and trails. The neighborhoods surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at Waterstone Apartments.

This home located at 1600 N Stanton PL is currently active and has been available on pardeeproperties.com for 36 days. This property is listed at $6,500,000. It has 3 beds and 2 bathrooms. The property was built in 1964. 1600 N Stanton PL is in the Eastside, Circle Area community of Los Angeles County.

Highlights

  • 36 days on market
  • Built in 1964
  • Total parking spaces 23Car
  • Apartment
  • Community | Eastside, Circle Area
  • MLS# | OC23207083MR
Connect with an agent
(1)

Zee Rojas

Partner | DRE #01873726

Listed By Tyler Leeson · Marcus & Millichap RE Invest

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