Investment Overview

Marcus & Millichap is pleased to present 1965 Saint Louis Avenue, located on the west side of Saint Louis Avenue, conveniently situated between East Pacific Coast Highway and East 20th Street in the City of Signal Hill, California. The two-story, two-unit multifamily property was originally built in 1991 and consists of approximately 2,982 square feet of building area on a 6,376 square foot parcel. The property consists of two (2) detached single-family style residences on one lot, each featuring a 3-Bedroom / 2-Bathroom layout. The sought-after unit mix is coupled with generously sized floor plans, with Unit 1 spanning approximately 1,806 square feet and Unit 2 approximately 1,195 square feet, maximizing both rental income potential and owner-occupant appeal. The property boasts two double-car garages totaling four (4) parking spaces, offering tenants and/or owners a rare combination of private parking and additional storage. The front residence is a single-level conventional home with a covered porch, fireplace, and direct street presence. The rear residence sits above the garage on the second level, offering privacy and separation from the front unit. Both homes are wood frame construction with stucco exterior, composition roofing, slab foundation, and central FAU/AC with in-unit washer/dryer for tenant and/or owners convenience. The property is also separately metered gas and electric. Situated in Signal Hill the subject property benefits from one of the most supply-constrained submarkets in greater Los Angeles. Signal Hill's close proximity to the beach, the 405 Freeway, Long Beach Airport, and the Port of Long Beach, creates a consistently high demand rental and ownership environment with minimal competing inventory. Tenants enjoy living in a quiet neighborhood containing 771 Single Family Residences within a half-mile radius. It is also a short distance to the Traffic Circle which contains many grocery stores, major retailers and shops as well as a variety of dining options. The property is within a half-mile radius of Hilltop Park with panoramic views of Long Beach, the Pacific Ocean and Catalina Island. Additionally, Signal Hill Park, Sunset View Park, Costco Wholesale, Home Depot, and the Signal Hill Business District, including many branded automotive dealers are a few minutes driving distance. The property is also conveniently located near Chittick Field Park, Recreation Park, including two (2) golf courses, Billie Jean King Tennis Center, Blair Field, Colorado Lagoon, Marine Stadium, and California State University of Long Beach. The subject property is conveniently near the popular retail, entertainment, and dining district of BelmontShore’s 2nd Street which offers more than 250 unique upscale boutiques, specialty shops, and a myriad of coffee shops, cafes, casual dining taverns, and eclectic international specialty restaurants. Other districts nearby the property include the East Village Arts District, 4th Street Retro Row and the Zafferia commercial corridor. Also close to the property is the Downtown Long Beach Business District which provides unique destinations, both historic and new, that attract over six million visitors annually. One of the city’s most revered attractions, The Queen Mary, arrived in Long Beach in 1967 and has since impressed millions of visitors with its art deco interiors and glimpses into a bygone era. The Aquarium of the Pacific, on the other hand, provides an intimate look into the future of marine biology and sustainability. Hotels, restaurants, and other tourist oriented venues including Shoreline Village, The Pike and Rainbow Harbor Waterfront surround the juggernaut that is the Long Beach Convention and Entertainment Center that brings in a staggering 1.6 million visitors per year with its year-round conventions and events. The City of Long Beach offers great coastal weather, access to several recreational activities and a reputation for being a big city with a small-town feel. At the center of Long Beach, a city of almost 470,000, they are the only large Downtown waterfront located between San Diego and San Francisco, retaining more affordable lease rates for off ice and retail space, as well as housing, than nearby areas such as Santa Monica, Downtown Los Angeles, and Irvine, CA.