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Perfect 4 unit investment property right in the heart of Downtown Long Beach, benefitting from over $8 billion in new and ongoing development. The property features four 1 bed/1 bath units in 2688 square feet on a 2001 square foot lot. Well priced on actual income at 13.3X GRM with a 9% upside in rents to a market GRM of 12. Nicely remodeled interiors that offer modern finishes while maintaining the period character of the building. Simple low expense property separately metered for gas and electric. Well maintained, professionally managed Asset in a dense, high demand rental market. Attractive entry price and low price per door for a 4 unit property, offering 30 year fixed financing. The property is only 2 blocks to the massive civic center redevelopment, 2 blocks to historic Pine Avenue, and 5 blocks to Ocean Blvd. The Metro Blue Line station is only one block away for excellent transit access. Per Costar, 65% of households within a 5 mile radius are renters with an average household income of over $93,000.
Property Type(s):
Residential Income
| Last Updated | 3/27/2025 | Tract | Downtown (DT) |
|---|---|---|---|
| Year Built | 1923 | Community | Downtown Area, Alamitos Beach |
| County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Range |
| AREA | Downtown Area, Alamitos Beach |
| GARAGE | None |
| HEAT | Wall Furnace |
| INTERIOR | Built-in Features |
| LOT | 2001 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| PARKING | None |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Downtown (DT) |
| UTILITIES | Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected, Electric: Standard |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | LBPD10 |
Location
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Listed with Buckingham Investments, 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.
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