1600 Stanton Place, Long Beach, CA 90804
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Sold Price :
$5,950,000
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Beds :
N/A
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Baths :
N/A
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Property Size :
N/A sqft
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Year Built :
1964
Property Description
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 12 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.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
1600 Stanton Place |
| City |
Long Beach |
| State |
CA |
| Zip |
90804 |
| County |
Los Angeles |
| Listing Agent |
Tyler Leeson DRE #01451551 |
| Courtesy Of |
Marcus & Millichap RE Invest |
| Close Price |
$5,950,000 |
| Status |
Closed |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
21,344 |
| Year Built |
1964 |
Listing information courtesy of: Tyler Leeson, Marcus & Millichap RE Invest. *Based on information from the Association of REALTORS/Multiple Listing as of May 31st, 2024 at 3:01 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
