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RARE 4-UNIT OWNER-USER, VALUE-ADD & PORTFOLIO OPPORTUNITY! Offered at $1,399,900, 117 W. 9th Street presents a unique opportunity to acquire a Long Beach multifamily property with TWO VACANT 2-BEDROOM UNITS. 50% OF THE PROPERTY AVAILABLE FOR IMMEDIATE OCCUPANCY OR LEASE-UP! The two currently occupied units generate $3,355 per month / $40,260 annually, with existing rents of $1,995 and $1,360. This provides established income from day one while leaving TWO 2-BEDROOM UNITS VACANT and available for a new owner to immediately reposition, improve, occupy, or lease at current market rents, subject to applicable laws. For an OWNER-USER, the opportunity is particularly compelling: occupy one of the vacant 2-bedroom units while receiving rental income from the occupied units and retaining an additional vacant 2-bedroom unit for future rental income. For an INVESTOR, 50% vacancy creates the opportunity to immediately address a significant portion of the property's income potential rather than waiting for existing tenants to vacate. Current annual operating expenses are approximately $17,390, with current NOI of approximately $22,870 BEFORE ANY INCOME FROM THE TWO VACANT UNITS. The property's current financial performance therefore reflects only 50% physical occupancy and should be evaluated together with the potential income available through lease-up of the two vacant units. Multiple strategies are available: OWNER-OCCUPY, LEASE-UP, RENOVATE, VALUE-ADD, HOLD, or 1031 EXCHANGE. Existing income + two vacant 2-bedroom units + immediate control of 50% of the units creates a compelling opportunity for a buyer seeking long-term upside. PORTFOLIO SALE: 117 W. 9th Street is being offered as part of a portfolio sale together with 1089 E. 7th Street, Long Beach, providing an opportunity to acquire multiple Southern California multifamily assets. Contact listing agent for portfolio details and terms.1031 EXCHANGE: Seller intends to complete an IRC Section 1031 Tax-Deferred Exchange. Buyer to cooperate with Seller's 1031 Exchange at no cost or liability to Buyer. Buyer to independently verify all rents, expenses, vacancies, market rents, square footage, unit configuration, permits, zoning, financial information, and owner-occupancy requirements.
Property Type(s):
Residential Income
| Last Updated | 8/31/2026 | Year Built | 1918 |
|---|---|---|---|
| Community | 4 - Downtown Area, Alamitos Beach | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | 4 - Downtown Area, Alamitos Beach |
| CONSTRUCTION | Stucco |
| HEAT | Natural Gas |
| LOT | 2500 sq ft |
| LOT DESCRIPTION | Corners Marked, Rectangular Lot |
| LOT DIMENSIONS | 2502 |
| PARKING | On Street |
| POOL DESCRIPTION | None |
| SEWER | Other |
| STORIES | 2 |
| STYLE | Traditional |
| VIEW DESCRIPTION | None |
Location
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Listed with eXp Realty of California Inc
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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