About this home

245 E. Artesia Boulevard presents the opportunity to acquire a well- maintained 5-unit multifamily asset with significant upside through future ADU development in a centrally located Long Beach neighborhood with convenient regional access. The property combines spacious floorplans, strong existing cash flow, and clear value-add potential, creating a compelling opportunity for both investors and potential owner/users. The property offers an attractive unit mix including (1) 3BD/2BA unit and (4) 2BD/2BA units, appealing to a broad tenant base seeking larger residential floorplans rarely found in today's multifamily inventory. Units are bright and spacious, averaging approximately 1,287 square feet, providing a more residential living experience compared to typical apartment product in the area. The 3BD/2BA unit features dramatic high beam ceilings and an in-unit washer and dryer, further enhancing rental appeal and potential owner/user functionality. The property has undergone extensive interior improvements, including updated flooring and paint throughout all units. Additional capital improvements include a newer roof approximately three years old and partially updated electrical systems, helping reduce near-term capital expenditure requirements and supporting operational stability. Ownership also benefits from ancillary laundry income through owned on-site machines, while seven (7) garages provide additional parking income and further enhance tenant convenience and property functionality. A key component of the investment opportunity is the property's future ADU development potential. Plans have been approved for the addition of two new 2BD/1.5BA ADU units, providing investors with a clear path to materially increase future income by approximately $60,000 annually. The ability to add density while leveraging the property's existing infrastructure creates a rare opportunity to substantially increase long-term cash flow and overall asset value. The property benefits from exceptional regional connectivity with convenient access to the 710, 91, 105, and 405 Freeways, allowing tenants efficient commuter access throughout Los Angeles and Orange County employment centers. The location also provides convenient proximity to Long Beach Airport, major retail corridors, dining amenities, and everyday neighborhood services, supporting long-term tenant demand and occupancy stability.

Facts and features

Schools

• King Elementary School

  elementary · K-5 · 0.2 mi

  4

• Jordan High School

  high · 9-12 · 0.8 mi

  3

• Hamilton Middle School

  middle · 6-8 · 1.2 mi

  4

• Open Door Enrichment

  elementary · K-3 · 0.2 mi

• United Faith Community Day Care Center

  elementary · PK-2 · 0.5 mi

• Powell Academy For Success

  elementary · K-8 · 0.8 mi

  4

Price history

• Jul 1, 2026 · Listed$1,695,000
• Mar 21, 2019 · Sold$1,225,000
• Jan 10, 2019 · Price Changed$1,299,000
• Jun 26, 2018 · Price Changed$1,349,000
• May 14, 2018 · Relisted$1,399,000
• May 11, 2018 · Listing Removed$1,399,000
• Feb 28, 2018 · Price Changed$1,399,000
• Jan 17, 2018 · Price Changed$1,495,000

Tax history

• 2025$18,971 tax · $1,393,835 assessed
• 2024$17,907 tax · $1,366,506 assessed
• 2023$17,626 tax · $1,313,445 assessed
• 2022$16,578 tax · $1,287,692 assessed
• 2021$16,245 tax · $1,262,444 assessed
• 2020$16,201 tax · $1,249,500 assessed
• 2019$7,612 tax · $531,050 assessed
• 2018$7,324 tax · $520,638 assessed

Home value

$1,901,410

• Quantarium$1,901,410
• Collateral Analytics$791,000

Where it is