319 Elm Street is a 24-unit multifamily asset located in Long Beach’s East Village Arts District, a dense and walkable Downtown submarket known for its consistent renter demand and proximity to employment, transit, and lifestyle amenities. The property is comprised of eighteen (18) studio units and six (6) one-bedroom/one-bath units, offering an efficient small-unit mix aligned with the area’s tenant profile, as evidenced by 100% occupancy (as of March 18, 2026).
Originally constructed in 1912, the building maintains its character exterior while featuring fully renovated interiors across all units. The completion of unit renovations, combined with separately metered utilities, contributes to a more streamlined and predictable operating profile with limited near-term capital requirements. The inclusion of ten (10) on-site parking spaces further supports tenant demand in a submarket where parking remains a relative constraint.
The property benefits from a highly walkable location, with a 98 Walk Score and 91 Bike Score, providing residents with immediate access to Downtown Long Beach’s retail, dining, and entertainment corridors. The East Village Arts District continues to demonstrate stable occupancy and sustained rental demand, supported by its concentration of local businesses, historic character, and connectivity to the broader Downtown area.
From an investment perspective, 319 Elm Street is a stabilized, operationally efficient asset within a supply-constrained urban infill location. The offering also qualifies for attractive financing at 5.05%.
