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PRICED TO SELL AT 9.4 GRM & 6.7% CAP WITH UPSIDE TO 7.1% CAP. 14 units in Long Beach subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7%). The property is professionally managed and well maintained. EARN OVER 9% CASH ON CASH AGAINST IN-PLACE RENTS. Some units have updated kitchens, baths and flooring. The property also just received updated landscaping and paint. The building features and excellent unit mix for the area and is located blocks from $8BB worth of redevelopment in the Down Town Long Beach area. There is no onsite parking but there is onsite laundry. The electrical is Siemens - it's a 200 AMP main panel with 30 AMP subpanels (Buyer to verify). Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The City of Long Beach also just approved a $38MM makeover of the Long Beach Airport in preperation for the 2028 Olympics. Qualfied Buyers can get a new loan at 5.40% Fixed for 5 years, Interest Only.
Property Type(s):
Residential Income
| Last Updated | 7/20/2026 | Year Built | 1929 |
|---|---|---|---|
| Community | 4 - Downtown Area, Alamitos Beach | County | Los Angeles |
Price History
| Prior to Jun 4, '26 | $2,499,000 |
|---|---|
| Jun 4, '26 - Jun 23, '26 | $2,479,000 |
| Jun 23, '26 - Jul 6, '26 | $2,450,000 |
| Jul 6, '26 - Jul 20, '26 | $2,439,000 |
| Jul 20, '26 - Today | $2,429,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | 4 - Downtown Area, Alamitos Beach |
| HEAT | Wall Furnace |
| LOT | 7135 sq ft |
| LOT DIMENSIONS | 7135 |
| PARKING | None |
| STORIES | Split/Multi Level |
Location
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Listed with The Agency
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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