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2005 construction and just outside of downtown Long Beach, this quadruplex has three large 3 bedroom 1 bathroom apartments, and one 1 bedroom 1 bathroom apartment. The strong income in place has this building at a GRM of 13.3X and a cap rate of 4.2%, and there is approximately 15% upside in the rents. The building features onsite laundry in select units, a large 2 car garage for each unit with extra parking on the driveway, and is separately metered for gas and electricity. There is a path to substantial upside via the conversion of some of the 8 garage spots to ADUs, as well as offsetting some of the expenses through the use of RUBS.The building is just 3 blocks North of Downtown Long Beach, with ongoing new developments of over $8 Billion. It offers excellent transit access only a few blocks to the metro blue line rail station, PCH, and the 710 freeway. Over 60% of households within 5 miles are renters with an average household income of over $94,000. (Per Costar)
Property Type(s):
Residential Income
| Last Updated | 3/3/2025 | Tract | Lincoln |
|---|---|---|---|
| Year Built | 2005 | Community | Downtown Area, Alamitos Beach |
| Garage Spaces | 8.0 | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Oven, Gas Range |
| AREA | Downtown Area, Alamitos Beach |
| CONSTRUCTION | Stucco |
| GARAGE | Garage, Yes |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| INTERIOR | Balcony |
| LOT | 6535 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| PARKING | Garage |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Modern |
| SUBDIVISION | Lincoln |
| UTILITIES | Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected, Electric: Standard |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | LBR4R |
Location
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Listed with Buckingham Investments, Inc
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