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Well-maintained 10-unit property located in the highly desirable Alamitos Beach neighborhood of Long Beach. The building features an attractive unit mix of (9) 1-bedroom/1-bath units and (1) 2-bedroom/1-bath unit, along with 6 single-car garages and 3 carport spaces"”an increasingly rare amenity in this coastal submarket. The property is being offered for sale for the first time in 36 years and provides strong in-place income with a current 5.02% cap rate, along with immediate and future upside potential. All units are eligible for rent increases beginning July 1, 2026, bringing the cap rate to approximately 5.56%, with further potential to reach a 6.62% market cap. Located just blocks from the beach, dining, and retail, the property benefits from consistent tenant demand and a highly walkable location. Additionally, the existing garage structures may offer potential for ADU conversion (buyer to verify), providing an opportunity to further increase income and maximize value. Ideal for investors seeking a stable coastal asset with both strong day-one cash flow and long-term upside in one of Long Beach's most sought-after rental markets.
Property Type(s):
Residential Income
| Last Updated | 5/5/2026 | Tract | Alamitos Beach (AB) |
|---|---|---|---|
| Year Built | 1962 | Community | 4 - Downtown Area, Alamitos Beach |
| Garage Spaces | 6.0 | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | 4 - Downtown Area, Alamitos Beach |
| GARAGE | Yes |
| HEAT | Wall Furnace |
| LOT | 7340 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| LOT DIMENSIONS | 7340 |
| PARKING | Assigned |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Alamitos Beach (AB) |
| WATER | Public |
Location
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Listed with Pabst, Kinney & Associates
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.
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