New Listing
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.
Details
| MLS # | PW26190004 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 2 |
| Listing Provided By | Sage Real Estate Group, Inc. | Cody Charnell |
Features
| Zoning | PD30 |
|---|---|
| Acreage | 0.17 |
| Property View | None |
Exterior
| Lot Features | Rectangular Lot |
|---|---|
| Fencing | Chain Link |
Utilities
| Utilities | Other |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90802 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Downtown (DT) |
| Listing VS Median (in Downtown (DT)) | |
Price: $1,799,000 low | high Med: $415,000 On site: 2 low | high Med: 26 | |
Market Activity 90802
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90802 |
| Area | 4 Downtown Area | Alamitos Beach |
| Community Name | Downtown (DT) |
| Listing VS Median (in Downtown (DT)) | |
Price: $1,799,000 low | high Med: $415,000 On site: 2 low | high Med: 26 | |
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