Long Beach CA Multi Family for Sale
$1,895,000
154 Elm Avenue Long Beach, CA 90802
- Type:
- Mixed Use
- Sq.Ft.:
- 7,500
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.09 Acres
- Year built:
- 1921
- Baths:
- MLS#:
- NP24250696
- Subdivision:
- Downtown (DT)
ADDITIONAL INFORMATION
Prime Mixed-Use Investment Opportunity in Downtown Long Beach Located in the vibrant East Village of Downtown Long Beach, this mixed-use building offers an exceptional investment opportunity. Situated on Elm & Broadway, just two blocks from the Long Beach Convention Center and steps from the bustling Pine Avenue with its restaurants and nightlife, this property is in the heart of a high-demand area with significant potential. The building consists of four commercial business tenants on the ground floor, generating reliable income, along with 11 rented residential units above—10 studios and 1 one-bedroom—currently on month-to-month leases. Note: 10 of the residential units do not have private bathrooms 2 are shared upstairs. With a solid CAP rate over 6%, this property offers a strong return on investment. All units are due for increases as soon as the new owner decides. The units above have a motel designation, offering future flexibility for potential conversion. This property is professionally managed, ensuring ease of ownership and maintenance. For buyers interested in converting the units to a motel or renovating, new management services will be available to facilitate a smooth transition and maximize the property’s potential with rent increases and renovation. The building itself is a beautiful brick structure, adding to the character of the East Village while providing a robust and low-maintenance asset for the investor. This is an excellent opportunity to acquire a mixed-use property in one of Long Beach’s most vibrant areas. Buyer to verify all details, including the motel designation with city permitting and financials.
$2,750,000
1048 5th Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 11,338
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.34 Acres
- Year built:
- 1915
- Baths:
- MLS#:
- IV24250595
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
Prime Investment Opportunity: Entitled 11-Unit Development with Existing Cash Flow in Long Beach This is a rare and highly attractive opportunity to acquire a stabilized 6-unit multifamily property situated on an oversized lot already entitled for an additional 5 units—bringing the total future unit count to 11 units. Upon completion, the project is projected to be valued at over $6,000,000, making this a compelling investment with significant upside potential. Key Highlights: Turnkey Existing Units: 5 of 6 units fully renovated with brand-new systems throughout the property, ensuring minimal immediate capital expenditures. Unit Mix (Existing 6 Units): (4) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath (1) 2 Bed / 2 Bath Entitled 5 Additional Units: Development-ready plans for modern units: (2) 3 Bed / 2 Bath units with grade-level parking (3) 4 Bed / 3 Bath townhome-style units, also with grade-level parking Financial Performance: Stabilized Gross Income: Projected to generate nearly $37,000 per month upon full build-out. Strong Cap Rate: Stabilized at a 6.75% Cap Rate on cost. Attractive GRM: Achieves a 10.74 GRM on cost, underscoring strong investment fundamentals. Significant Profitability: Projected end value exceeds $6,000,000, providing exceptional upside in one of Long Beach’s hottest rental markets. Conservatively underwritten profits of $1.2M+ make this an ideal low-risk, high-reward investment. Strategic Investment Benefits: Immediate Cash Flow: Benefit from consistent cash flow during the development process with income from the stabilized 6 existing units. Low-Risk Development Play: Existing units offset holding costs, while entitled plans minimize entitlement risk. High-Demand Location: Situated in Long Beach, a thriving rental market with strong tenant demand and long-term appreciation potential. This property offers the best of both worlds: stable cash flow today and exceptional upside tomorrow. With a clear path to development and substantial projected returns, this is an opportunity that investors and developers alike will not want to miss.
$3,799,999
1701 E. Ocean Boulevard Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 8,388
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.16 Acres
- Year built:
- 1958
- Baths:
- MLS#:
- OC24244770
ADDITIONAL INFORMATION
Assumable Loan Available at only 3.81%! Located in the heart of Alamitos Beach, just steps away from the iconic shoreline, 1701 E. Ocean Blvd. offers an ideal opportunity to acquire a Corner Lot, 9-unit Trophy property in one of Long Beach’s most coveted neighborhoods. This Legacy property is operating at a strong 5.19% Cap Rate and 12.72 GRM! The Ocean Blvd. apartments have been extremely well maintained and upgraded by ownership. In recent years, the building has had major renovations to both the plumbing and roof. Inside, units feature built-in cabinetry, new quartz countertops, vintage crown molding, hardwood flooring, and large dining rooms with arched walkways that highlight the building’s timeless charm. Tenants enjoy the luxury of being just minutes from some of Long Beach’s most desirable locations, including the Pike Outlets, Retro Row, Second Street, Bixby Park, and the prospering Downtown Long Beach! Totaling just under 8,400 Sq.Ft., the property includes an exceptional unit mix of (1) Two-Bedroom/Two-Bath (~1,200 Sq.Ft.), (4) Two-Bedroom/One-Bath units (~1,100 Sq.Ft.), and (4) One-Bedroom/One-Bath units (~700 Sq.Ft.). Each unit offers ample closet and storage space, and select units offer washer/dryer hookups and private patios! There is a community laundry room on-site, offering additional convenience. There are a total of (8) parking spaces, including (5) garages and (3) tandem spots for tenants. These spaces could also be viewed as a potential ADU, being on the back corner of the lot. With four units being delivered vacant and an assumable loan at only 3.81% through Aug. 2028, this is an incredibly rare opportunity to cash flow on one of Long Beach’s most sought-after streets! Whether you are looking for stable cash flow or a property with long-term appreciation potential, this property is a rare find in today’s market!
$3,250,000
1721 Appleton Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 8,946
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.19 Acres
- Year built:
- 1957
- Baths:
- MLS#:
- PW24241198
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
Located in the sought-after Alamitos Beach of Long Beach near Bixby Park. Value add property with approximately 33% in rental upside. This property offers a unit mix of (10) ten one-bedrooms and (2) two two-bedrooms. Pride of ownership offering a well-maintained property for new ownership. Recent renovations include copper plumbing and windows throughout. The property offers convenient laundry facility on site. The units themselves are well-appointed with gas cooking, electric heating, hardwood floors, and ceiling fans, and wall heaters ensuring a comfortable living environment. The building has a historically high tenant retention rate, due to its location in highly desirable North Alamitos Beach.
$1,150,000
532 Cherry Avenue Long Beach, CA 90802
- Type:
- Fourplex
- Sq.Ft.:
- 2,016
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.12 Acres
- Year built:
- 1959
- Baths:
- MLS#:
- PW24239437
- Subdivision:
- Eastside (ES)
ADDITIONAL INFORMATION
PRIME EASTSIDE LOCATION! 4-PLEX ALL 1 BEDROOM/1 BATHROOM UNITS. 2 GARAGES AND 1 ADDITIONAL PARKING SPACE AND ONSITE LAUNDRY ROOM BOTH BRINGING IN ADDITIONAL INCOME!! REMODELED UNITS. NEWER EXTERIOR PAINT PROPERTY. GREAT RENTAL MARKET WITH CLOSE PROXIMITY TO CSULB, SHOPPING, RESTAURANTS AND ONLY 5 BLOCKS TO THE BEACH! HURRY THIS 4-PLEX WILL NOT LAST LONG!
- Type:
- Single Family
- Sq.Ft.:
- 268
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.77 Acres
- Year built:
- 1928
- Baths:
- MLS#:
- CV24238789
- Subdivision:
- North Long Beach (NLB)
ADDITIONAL INFORMATION
Discover the perfect blend of history and creativity in this space, nestled within the iconic Lafayette Building in the vibrant Long Beach Arts District. Currently used as an office, this versatile space offers endless potential for professional use. The Lafayette Building boasts a rich architectural history and is surrounded by an eclectic mix of galleries, cafes, and entertainment, embodying the artistic energy of the area. Enjoy access to a variety of building amenities while being just steps away from the cultural and culinary delights of downtown Long Beach.
$1,049,000
713 1st Street Long Beach, CA 90802
- Type:
- Duplex
- Sq.Ft.:
- 1,444
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.05 Acres
- Year built:
- 1953
- Baths:
- MLS#:
- PW24237621
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
Hidden Gem in the East Arts Village District of Long Beach. This fully renovated mid-century modern duplex has the perfect vibe! Penthouse unit has loads of natural light, contemporary accents and a fantastic open floor plan. Approximately 1000 sq. feet with a huge primary suite with gorgeous hardwood floors and modern en suite bathroom. Kitchen has a sleek design with custom cabinets, Caesar Stone counter-tops, stainless appliances, and porcelain flooring. Lower unit resembles top on a smaller scale. Property has a back-yard garden sanctuary in the middle of the city! Attached garage with direct access to unit. Stackable Laundry too! Great location and a short distance to the water, restaurants, coffee houses and Convention & Performing Arts Centers. Truly a must see!
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- 1
- Lot size:
- 0.77 Acres
- Year built:
- 1928
- Baths:
- MLS#:
- CRCV24238789
View additional info
Courtesy: REALTY ONE GROUP EMPIRE
ADDITIONAL INFORMATION
Discover the perfect blend of history and creativity in this space, nestled within the iconic Lafayette Building in the vibrant Long Beach Arts District. Currently used as an office, this versatile space offers endless potential for professional use. The Lafayette Building boasts a rich architectural history and is surrounded by an eclectic mix of galleries, cafes, and entertainment, embodying the artistic energy of the area. Enjoy access to a variety of building amenities while being just steps away from the cultural and culinary delights of downtown Long Beach.
$1,250,000
534 Maine Avenue Long Beach, CA 90802
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- 7
- Lot size:
- 0.12 Acres
- Year built:
- 1924
- Baths:
- MLS#:
- CL24462853
View additional info
Courtesy: Lyon Stahl Investment Real Estate, Inc.
ADDITIONAL INFORMATION
534 Maine Ave is a 4-unit building, originally built in 1924. This property comprises (3) spacious 2-bedroom units, each approximately 725 square feet, and (1) 1-bedroom unit at 460 square feet. One of the 2-bedroom units are currently vacant offering opportunity for a owner-user. Additionally, there is a 30% potential rental upside, providing an excellent opportunity for income growth with market adjustments. The property has been meticulously maintained and upgraded, reducing the need for substantial capital expenditures. The owner has undertaken significant improvements, including modern renovations to all units, creating a fresh, move-in-ready atmosphere. Updated landscaping enhances the curb appeal and ensures low-maintenance upkeep for future ownership. Each unit is individually metered, the owner covers water and sewer costs, while tenants are responsible for gas, trash, and electricity. This is a perfect fit for an investor or owner-user looking for a turnkey, well-located property with major capital improvements already completed, offering immediate cash flow and future upside potential.
$4,500,000
737 5th Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 12,412
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.17 Acres
- Year built:
- 1964
- Baths:
- MLS#:
- PW24229677
ADDITIONAL INFORMATION
We are pleased to present a very well maintained 14- unit apartment in a fantastic East Village location. The building was built in 1964 and features 4 one-bedroom units, 4 two-bedroom units, and 6 two-bedroom two bath units. Current ownership has taken extremely good care of these buildings and over the years has replumbed the building, upgraded the electrical, installed new windows, installed a new roof and in general created a turnkey asset or a new investor. The current rents are slightly below market allowing a new owner to raise rents without turnover.
$4,500,000
737 E 5th Street Long Beach, CA 90802
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.17 Acres
- Year built:
- 1964
- Baths:
- MLS#:
- CRPW24229677
View additional info
Courtesy: Marcus & Millichap
ADDITIONAL INFORMATION
We are pleased to present a very well maintained 14- unit apartment in a fantastic East Village location. The building was built in 1964 and features 4 one-bedroom units, 4 two-bedroom units, and 6 two-bedroom two bath units. Current ownership has taken extremely good care of these buildings and over the years has replumbed the building, upgraded the electrical, installed new windows, installed a new roof and in general created a turnkey asset or a new investor. The current rents are slightly below market allowing a new owner to raise rents without turnover.
$6,850,000
1237 1st Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 8,319
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.19 Acres
- Year built:
- 2023
- Baths:
- MLS#:
- PW24227280
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
This property is an 18-unit, fully stabilized, and turnkey apartment complex located in the sought-after Alamitos Beach area. The property has seen an investment of over $1,165,000 and has undergone a complete renovation, down to the studs. The entire building was rebuilt, including new floors, windows, interiors, exterior stucco, plumbing, electrical and mechanical systems, and more. Each unit was completely remodeled with high-end finishes. The renovations led by an interior designer, include features such as recessed and custom lighting, brand-new kitchens and bathrooms, stainless steel appliances, and in-unit washers and dryers.
$6,150,000
1221 1st Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 8,120
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.21 Acres
- Year built:
- 2023
- Baths:
- MLS#:
- PW24227234
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
Fully stabilized, 16 unit, turnkey apartment building located in the highly desirable Alamitos Beach area. With over $950,000 invested, the property underwent a complete transformation down to the studs including new flooring, windows, interiors, exterior stucco, plumbing, electrical and mechanical systems, and more. All units were fully gutted and remodeled using high-end materials, with renovations led by an interior designer. Upgrades include recessed and custom lighting, brand-new kitchens and bathrooms, stainless steel appliances, and in-unit washers and dryers.
$2,250,000
1135 3rd Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 6,715
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.19 Acres
- Year built:
- 1923
- Baths:
- MLS#:
- PW24222836
- Subdivision:
- Downtown (DT)
ADDITIONAL INFORMATION
Pleased to present 1135 E. 3rd Street, an 11-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (10) studios (2 of which are exceptionally large), and (1) detached 3-bedroom/2-bathroom house, with its own garage. 1135 E. 3rd St. offers substantial upside potential by updating the units and bringing rents closer to market levels.
$2,350,000
833 1st Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 6,087
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.19 Acres
- Year built:
- 1922
- Baths:
- MLS#:
- PW24222778
- Subdivision:
- Downtown (DT)
ADDITIONAL INFORMATION
Pleased to present 833 E. 1st Street, a 10*-unit apartment investment opportunity located in the sought-after Long Beach neighborhood of Alamitos Beach. Offered for sale for the first time in decades, the property is ideally located just a short walk from the beach, and mere minutes from both Downtown and Retro Row. It is comprised of (8) 1-bedroom/1-bathroom single story units in the front building, plus a huge 3-bedroom/2-bathroom in the back, above the studio and garages. 833 E. 1st St. offers substantial upside potential by updating the units and bringing rents closer to market levels. *The studio unit is non-conforming.
$5,950,000
515 W 3rd Street Long Beach, CA 90802
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.14 Acres
- Year built:
- 1928
- Baths:
- MLS#:
- CROC24220952
View additional info
Courtesy: Mike Marcu, Broker
ADDITIONAL INFORMATION
La Pasada is a 29-unit apartment community located directly across the street from the downtown courthouse. Featuring new sewer lines, plumbing (1st & 2nd floor), electrical system, roof, windows, the entire 1st floor has been rebuilt form the studs out. These units have central HVAC. The 2nd floor has had all the bathrooms completely remodeled and the balance of the interiors upgraded. The 3rd floor features two common area bathrooms and 11 single room occupancy units which are in good condition. The seller is offering to provide a 70% first note and trust deed, at a 5% interest rate, with interest only payments for the term of the loan.
$1,275,000
260 Cerritos Avenue Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 3,320
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.06 Acres
- Year built:
- 1923
- Baths:
- MLS#:
- PW24219674
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
Large Price Reduction! Great Investment Opportunity! Welcome to 260 Cerritos Ave. located in the heart of Alamitos Beach. The subject property consists of a 4 unit apartment building, comprised of 4 large 1bed/1bth units, approx. 830 SF each. New roof installed 2023. All the units are spacious, light, bright and airy, featuring lots of character, vintage built-ins, large closets and storage. All 4 units are separately metered for gas and electricity. Located in a great area of Long Beach, just minutes from Downtown Long Beach and a few blocks from the beach. Don't miss out on this great investment opportunity! Seller will consider Concessions with Offer!
- Type:
- Other
- Sq.Ft.:
- 703
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.35 Acres
- Year built:
- 1959
- Baths:
- MLS#:
- OC24212255
- Subdivision:
- Downtown (DT)
ADDITIONAL INFORMATION
URBAN PERFECTION in East Village Arts District! This light and bright second-floor Mid Century Modern one-bedroom OYO with one car garage is move in ready in downtown Long Beach. Walk to everything with a walk score of 97, this unit offers ample natural light and is move in ready, making it an ideal choice for first-time homebuyers or investors. Kitchen comes with electric cooktop and oven, new farm sink and refrigerator. Laminate floor in living room, carpet in bedroom with very large closet, upgraded bathroom. Very easy to rent. This home is 3 blocks from Pine Avenue and all of its wonderful restaurants and nightlife and close to everything in downtown Long Beach. Close to the Long Beach Convention Center and Shoreline village. Leave your car at home and get out and explore the neighborhood. This location is a Walker’s Paradise so daily errands do not require a car. 640 Elm Avenue is a three minute walk from the Metro A Line (Blue) at the 5th Street Station stop. This location is in the Saint Mary neighborhood in Long Beach. Nearby parks include Harvey Milk Park, K-9 Corner Dog Park and Lincoln Park.
$2,500,000
525 Linden Avenue Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 6,868
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.17 Acres
- Year built:
- 1973
- Baths:
- MLS#:
- PW24201233
ADDITIONAL INFORMATION
We are pleased to present a 10 unit apartment building located at 525 Linden Avenue in Long Beach, California. This is a value-add opportunity in a great location of East Village in Long Beach. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists 6,868 rentable square feet spread throughout a 7,536 square foot lot. It was built in 1973 and consists of 8 one bedroom / one bathroom units and 2 two bedroom / two bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 8 garages which are able to generate income as well. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean breeze and walking distance to shops, restaurants, cafes, entertainment centers and grocery stores.
$2,300,000
1004 5th Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 7,122
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.17 Acres
- Year built:
- 1963
- Baths:
- MLS#:
- SB24178968
- Subdivision:
- Downtown (DT)
ADDITIONAL INFORMATION
Located in the downtown area. Property has a new roof, and the upstairs pathway and balcony deck has been resurfaced. The complex is near the beach, restaurants, shops, public transportation and central downtown. There are five garages and the complex is gated.
$1,575,000
17 Bonito Avenue Long Beach, CA 90802
- Type:
- Fourplex
- Sq.Ft.:
- 3,166
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.05 Acres
- Year built:
- 1918
- Baths:
- MLS#:
- PW24166919
- Subdivision:
- Alamitos Beach
ADDITIONAL INFORMATION
Pride of Ownership, Four Unit, Trophy Property! Located within the highly sought after community of Alamitos Beach, merely footsteps from the sand. 17 Bonito is a picturesque early 1900's building, featuring classic characteristics and qualities of early 20th century architecture – boasting high ceilings, built in cabinetry, large open floor plans and an abundance of natural light. The asset is separately metered for gas and electric and has its own large laundry room.Recent upgrades include; updated electrical wiring/panels, newer plumbing/gas lines and new roof. Interior unit upgrades are extensive and will be provided on request. Leasing in this location is in incredibly high demand, due to the buildings design, unit floor plans and proximity to the ocean, restaurants, trendy coffee shops and high end retail stores. Long Beach’s “2nd street”, is well known for its amazing fashion stores, restaurants, bars and coffee shops, located just a short drive down Ocean blvd!
$1,150,000
528 Cherry Avenue Long Beach, CA 90802
- Type:
- Fourplex
- Sq.Ft.:
- 2,016
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.12 Acres
- Year built:
- 1959
- Baths:
- MLS#:
- PW24143931
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
A garden-setting building with two undivided garages. Wide front doors at ground level. brick patio in front of each separate unit. community vegetable garden in the back. A laundry room is in the back, and the two extra storage rooms are rented separately. The building has been newly painted on all trim and doors. Flat roof. each unit has newly improved bathrooms with Travertine Marble flooring. Some have whirlpool tubs. Newer upgraded flooring in all units. Granite Countertops in each kitchen. Original solid wood cabinetry in kitchens. Semi-cathedral ceilings in each unit lend each space an airy spacious aspect. Crank Windows in most rooms. New windows in bathrooms. Garages in front of the building are for two cars only with no separating wall. Nice Plantings and all units open onto a sunny walkway "courtyard"—only seven blocks to the beach on Cherry Ave in the Rose Park Neighborhood. Cherry is a main avenue from the Ocean to Signal Hill and beyond.
$4,800,000
1912 2nd Street Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 9,662
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.19 Acres
- Year built:
- 1923
- Baths:
- MLS#:
- PW24131544
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
YoungLewin Advisors is pleased to present a well maintained 19-unit apartment building in Long Beach, California. The property is well-located just steps from Bixby Park and the Pacific Ocean in Long Beach’s vibrant Alamitos Beach neighborhood. The property’s excellent location also offers tenants convenient access to the numerous popular dining, shopping and entertainment opportunities on Broadway, Retro Row and in the rapidly redeveloping Downtown Long Beach. 1912 East 2nd Street consists of a two-story 1923 construction building that contains 11 studios, 6 one-bed/one-bath and 2 one-bed/one-and-one-half bath units. The property is securely gated and boasts a well-maintained art deco facade, an inner courtyard, and a two-car garage in the rear. Parking is a highly sought-after amenity in this neighborhood and could demand premium additional income. The property also has RUBS in-place to lower ownership's expense. 1912 E 2nd is priced attractively at a 11.60 GRM, and a 5.40% cap rate with 20% upside in NOI to low 10 times gross and a 6.46% cap rate. The excellent location combined with strong cash flow makes it an outstanding opportunity for an investor to add value and capture substantial potential upside in rents and long term appreciation.
$4,500,000
448 Orange Avenue Long Beach, CA 90802
- Type:
- Apartment
- Sq.Ft.:
- 8,486
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.28 Acres
- Year built:
- 1923
- Baths:
- MLS#:
- PW24114256
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
Nestled in one of Southern California's most eclectic and vibrant cities, Long Beach, California, this timeless Spanish apartment building is a true gem. Less than half a mile from the Pacific Ocean, this property boasts 22 charming units, offering a mix of one-bedroom and studio apartments. Located in the heart of the Alamitos Beach and the Downtown area, residents enjoy a dynamic neighborhood characterized by extensive renovations, trendy restaurants, and stylish living spaces. This locale perfectly blends the charm of classic architecture with the allure of modern amenities, making a unique and enriching urban lifestyle. Huge 300-foot-deep lot.
$3,195,000
315 Cherry Avenue Long Beach, CA 90802
- Type:
- Mixed Use
- Sq.Ft.:
- 6,392
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.16 Acres
- Year built:
- 1923
- Baths:
- MLS#:
- SB24022524
- Subdivision:
- Alamitos Beach (AB)
ADDITIONAL INFORMATION
Charming, turnkey, and in a prime location – this is the generational asset you have been looking for! This clean and well-maintained 8-unit property consists of six 1bed/1bath units (over 900 sqft each) and two studio units with four garages. All the units are large, allow for a ton of natural light inside, have great layouts with cool original features (like French Doors, custom built-ins, fire places, etc.). Plus, the vintage character of this classic Spanish style property has been meticulously preserved, while modern amenities have been added over time like laundry units, AC/Heating units, modern kitchens, lighting, ceiling fans, etc. in each unit. The entire property is secured, has drought-resistant landscaping, and has separate electrical and gas meters for each unit. Located within Alamitos Beach, this highly sought after neighborhood of Costal Long Beach is in close proximity to the best the city has to offer – local parks (Carroll & Bixby Park), local beaches (Alamitos & Junipero Beach), local restaurants (4th Street Corridor & Retro Row), local golf courses, public transportation, etc. Plus, this neighborhood is securely anchored by the thriving local economy that continues to grow within Downtown Long Beach. For the savvy investor, the potential may exist to convert the garages into two studio units and/or to add additional bedrooms/ bathrooms to the existing large 1bed units. Also, one might consider a short-term and/or mid-term rental strategy to boost the income even more. This perfect combination is what every tenant is looking for in this area, which keeps vacancy rates low and market rental rates as high as possible – making this a great addition to any investors portfolio!
Long Beach Real Estate
The median home value in Long Beach, CA is $739,900. This is lower than the county median home value of $796,100. The national median home value is $338,100. The average price of homes sold in Long Beach, CA is $739,900. Approximately 38.38% of Long Beach homes are owned, compared to 56.31% rented, while 5.31% are vacant. Long Beach real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Long Beach real estate agent to arrange a tour today!
Long Beach, California 90802 has a population of 466,565. Long Beach 90802 is less family-centric than the surrounding county with 26.94% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Long Beach, California 90802 is $71,150. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Long Beach 90802 is 35.9 years.
Long Beach Weather
The average high temperature in July is 79.4 degrees, with an average low temperature in January of 46.4 degrees. The average rainfall is approximately 13.6 inches per year, with 0 inches of snow per year.