About this home

STUDENT HOUSING OPPORTUNITY - 64 BEDS + 8 BEDS = 72 MAX BEDS. 7.47% CURRENT CAP, WITH MARKET CAP RATE AT 8.63%-9.14%! Park Villa Apartments, an 18-unit / 64-bed off-campus student housing asset serving California State University, Long Beach (CSULB). The property operates under a "by-the-bed" leasing model commonly used in purpose-built student housing, offering furnished individual beds rather than leasing entire units. This structure provides students greater flexibility while generating higher effective rents per unit and diversified cash flow for ownership. Park Villa Apartments features (4) 3BD/2BA, (2) 2BD/2BA, (10) 2BD/1BA and (2) 1BD/1BA units surrounding a landscaped courtyard, along with on-site laundry, eight garages and 12 tandem surface parking spaces. Comprehensive renovations completed in 2023 include upgraded electrical and plumbing systems, new dual-pane windows, laminate flooring, shaker-style cabinetry, quartz countertops, stainless steel appliances, updated bathrooms, modern lighting, ceiling fans and fixtures throughout. The property is located near Long Beach's Traffic Circle, providing walkable access to extensive retail, dining and everyday services. Its proximity to CSULB and the 405 Freeway also provides convenient connectivity throughout Long Beach, the South Bay and Orange County. CSULB has 3,500 on-campus beds serving more than 42,000 students-an on-campus housing saturation rate of approximately 8%-leaving the overwhelming majority of students reliant on the private housing market. Demand is further supported by record enrollment and approximately 84,000 applications in the most recent admissions cycle, the highest applicant volume in the 23-campus CSU system. This persistent supply-demand imbalance provides Park Villa Apartments with a deep, recurring renter pool. Combined with annual lease resets, recurring new-student demand and approximately 25% tenant retention, the property's by-the-bed model provides a compelling foundation for stable occupancy, income growth and long-term student housing demand.

Facts and features

Schools

• Bixby Elementary School

  elementary · K-5 · 0.6 mi

  8

• Wilson High School

  high · 9-12 · 0.9 mi

  6

• Stanford Middle School

  middle · 6-8 · 1.3 mi

  7

• Zinsmeyer Academy

  elementary · K-12 · 0.6 mi

• Bryant Elementary School

  elementary · K-5 · 0.6 mi

  6

• Our Lady Of Refuge

  elementary · 0.6 mi

Price history

• Oct 6, 2026 · Listed$8,000,000
• Jul 19, 2023 · Sold$7,165,000
• Jul 27, 2021 · Listing Removed—
• Feb 23, 2021 · Price Changed$7,800,000
• Jan 6, 2021 · Listed$8,250,000
• Jul 25, 2019 · Sold$21,512,500

Tax history

• 2025$96,937 tax · $7,454,466 assessed
• 2024$92,726 tax · $7,308,300 assessed
• 2023$88,785 tax · $6,832,659 assessed
• 2022$83,302 tax · $6,698,686 assessed
• 2021$81,652 tax · $6,567,340 assessed
• 2020$81,438 tax · $6,500,000 assessed
• 2019$19,065 tax · $1,296,413 assessed
• 2018$18,349 tax · $1,270,994 assessed

Home value

$8,057,117

• Quantarium$8,057,117

Where it is