Multifamily
Waterstone Apartments
1600 Stanton Pl, Long Beach, CA 90804
Listing Price: $6,500,000
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Waterstone Apartments, 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.
Investment Highlights
- One Third of the Units Have Substantial Renovations / Unit Upgrades
- Desirable Mix of One & Two-Bedroom Floor Plans
- Select Units with Private Balconies & Patios
- Value-Add Opportunity Through the Continuation of the Proven Renovation Plan
- Secure, Gated Access & Garage Parking - 23 Garage Spaces & 8 Large Storage Spaces
- Close Proximity to Schools, Parks, Grocers, & Retailers
Listing Price: $6,500,000
Investment Highlights
- One Third of the Units Have Substantial Renovations / Unit Upgrades
- Desirable Mix of One & Two-Bedroom Floor Plans
- Select Units with Private Balconies & Patios
- Value-Add Opportunity Through the Continuation of the Proven Renovation Plan
- Secure, Gated Access & Garage Parking - 23 Garage Spaces & 8 Large Storage Spaces
- Close Proximity to Schools, Parks, Grocers, & Retailers
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Waterstone Apartments, 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.

